Telecom Diary: Delay in govt acquiring Vodafone Idea stake impacting fund-raising plans

The government’s delay in acquiring an equity stake in Vodafone Idea against its accrued interest on deferred AGR (adjusted gross revenues) dues has put the struggling telco in a no-win situation.

It’s been almost a year since Vodafone Idea’s board approved conversion of the full amount of interest at around Rs 16,000 crore on deferred spectrum and adjusted gross revenue dues into equity, making the government single-largest shareholder with 35.8 per cent stake. However, the hold up by the government has created a stalemate impacting the fundraising plans of Vodafone Idea.