New Delhi: Telecom Vodafone Operator Ideas Ltd (VIL), Tata Teleservices Ltd and Tata Teleservices (Maharashtra) Ltd (TTML) will not be a public sector business after their interest paid on converted contributions into government equity, the Ministry of Communication said on Wednesday.
Three companies ridden by debt have proposed to change their interest obligations paid to the government into equity.
“The three companies will not become PSU.
These three companies will continue to be managed as private companies managed professionally,” said the Telecom Ministry in a statement.
Post-conversion, the government will have 35.8 percent in vil and share ownership in TTML around 9.5 percent.
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