COAI says SPV proposal nixed due to lack of consensus, says Govt not involved

Telecom operator association (COAI) said its proposal to set up a Special Purpose Vehicle (SPV), to aid the financially strained sector has been nixed as one of telcos was not on board with the plan. It added that the government was not involved in the proposal.

“Unfortunately, the proposal did not pass the test of internal scrutiny among the telcos, so we will have to come up with a different proposal,” Rajan Mathews, director general of the Cellular Operators Association of India (COAI) told ET.