Vodafone Idea will have to shut shop if no govt relief comes: K M Birla

Leading industrialist Kumar Mangalam Birla on Friday said Vodafone Idea would shut down if there was no relief from the government, setting alarm bells ringing. “If we are not getting anything, then I think it is the end of story for Vodafone Idea,” the chairman of the company said at the HT Leadership Summit, while replying to a question on the future of the telecom joint venture.

Birla’s comment came within weeks of Vodafone global CEO Nick Read making a similar point. During a post-result media interaction in London last month, Read had said its Indian venture might be headed for liquidation unless the government offered a remedy to ease the financial stress, especially after the Supreme Court verdict on adjusted gross revenue (AGR).