Govt gives telcos till Oct 29 on opting for payments’ moratorium, 90 days for equity conversion
Mumbai: The telecom department has given Vodafone Idea, Bharti Airtel and Reliance Jio till October 29 to decide whether they would opt for a four-year payment moratorium which runs from FY22-23 through FY25-26. Further, 90 days have been given to carriers to exercise a one-time option of converting the interest which accrues due to deferred payments into government equity.
The shares of the telco would be held through the Unit Trust of India, “or by any trustee type or other suitable arrangement, which may be worked out by the government,” the department of telecommunications (DoT) has said .