Government to acquire Vodafone Idea stake after share price stabilises at Rs 10 or above

The government will acquire a stake in debt-ridden Vodafone Idea after the stock price of the company stabilises at Rs 10 or above, according to an official source.

Vodafone Idea (VIL) board has offered a stake to the government at a par value of Rs 10 per share.

“There is a SEBI norm that the acquisition should take place at par value. DoT will clear the acquisition after VIL shares stabilise at Rs 10 or above,” an official source told PTI.

VIL shares are trading below Rs 10 since April 19. The stock declined by 1.02 per cent to trade at Rs 9.68 on BSE on Thursday.