Vodafone Idea, Airtel seek bailout package, more time to pay

NEW DELHI: As they line-up funds to pay the telecom department following the order of the Supreme Court on AGR (adjusted gross revenue) matter, stressed telecom companies Vodafone Idea and Airtel are understood to have made a series of suggestions to the government to help them tide over the difficult times. Among them is a plan to give more time to the companies to make the AGR dues payment, while also giving them access to easier funding facilitated by the government so that payments can be made accordingly.

Sources said the companies have been saying that a government bailout is essential at this point in time, especially as the relief offered by the high-powered Committee of Secretaries (CoS) — which is now disbanded — was “insufficient, and not in line with the current needs of the industry”.