New Delhi: In rare developments, this center is regulated to accept ownership in two private telecommunications companies – Vodafone’s idea that is full of debt and Tata Group Tata Teleservices (TTL) – as a substitute for flowers from them, as part of the resurrection of the package for sick players announced Last September.
Following the decision by the company, the government will become the largest single shareholder in the idea of ​​Vodafone, holding 35.8% in the third largest telecommunications company in the country.
The Vodafone Group will see a decline from 44% to 28.5%, while Aditya Birla Group will see a decline in shares to 17.8% from 27.7%.
The government will also get bets in two companies under Tata Teleservices (TTL).
Although it will get 9.5% on registered Tata Teleservices (Maharashtra) or TTML, which holds non-registered TTSL, which has services in 17 telecommunications circles, not yet public.
Although telecommunications have been identified as a strategic sector, which resulted in the government repeatedly redeeming Laggard MTNL and BSNL, the center will get shares in two private companies at that time wanting to get out of several economic sectors.
The government insisted that the move “at all does” mean that it will take control of the company and run it every day.
It does not want management control and prefer the company to be managed by the current promoter, even because it plans to liquidate its position in the future.
The Vodafone IDE board, who cleaned the proposal on Monday, estimated that interest payments for pending payments would be around RS 16,000 Crore, which decided to offer equity.
The move, which saw company scripts had 21% accident because it was closed by the day at 11.8, however, was seen as positive by analysts.
Some analysts say that the government’s entry as the largest shareholder and guarantee of Sovereign support will be positive for Vodafone’s idea because it runs to raise funds from investors in India and abroad.
In terms of TTL, the interest value estimated by TTML is around RS 850 Crore, although the same thing is unknown with TTSL.
The company has sold its mobility business to Airtel, and now runs a broadband business that focuses on the company.
While the government has given a long rope to the company to conveniently overcome their business plan on the resurrection, analysts also say that it will be a high task for the idea of ​​Vodafone to return.
The company, which runs Mammoth debt around Rs 1.8 lakh crore, must compete with stronger players such as Reliance Jio and Bharti Airtel even when he prepares the transition to 5G and other modern telecommunications technology.