Vodafone Idea in a ‘difficult phase’, hope govt supports: Kapania

Mumbai: Vodafone Idea is going through a “difficult phase” and hopes the government will back its efforts to generate reasonable returns on its “massive” investments, new chairman Himanshu Kapania said.

“As the industry continues to remain under unsustainable financial duress, your company is hopeful that the government will provide the necessary support to address all structural issues faced by the sector,” Kapania said in his first letter to shareholders since replacing Kumar Mangalam Birla as chairman of the struggling carrier.