Vodafone Idea tanks 12% as chairman fears closure of biz

NEW DELHI: Telecom operator Vodafone Idea took a plunge in the early trade on Monday as investors were spooked by comments of its chairman predicting a closure of business in case there was no governmental help.

“If we are not getting anything, then I think it is the end of story for Vodafone Idea,” Kumar Mangalam Birla said at an event in New Delhi on Friday. “It does not make sense to put good money after bad… We will shut shop.”