InvestorQ : With Birla willing to exit Vodafone Idea, what happens to Vodafone India?
manisha Kolvenkar made post

With Birla willing to exit Vodafone Idea, what happens to Vodafone India?

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Crowny Pinto answered.
4 months ago
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Chairman of the AV Birla Group, Kumara Mangalam Birla indicated to the government his willingness to exit Vodafone Idea. Birla was willing to offer his stake to any state-owned or domestic financial entity if the purpose was to keep the stressed telecom player afloat, since its bankruptcy at this point of time would cost the economy in terms of bank loans, government dues as well as jobs lost.

There have been persistent concerns over the Rs.180,000 crore debt of Vodafone since losses have already eroded the net worth. This includes the government dues towards spectrum fees. Vodafone has been trying to raise Rs.25,000 crore to bail out the company but investors are reluctant in the current scenario. Vodafone UK and the AV Birla group, the JV sponsors, have refused to infuse any further capital into Vodafone Idea for now.

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