Vodafone Idea lenders dial Finance ministry, want relief for telco

A consortium of lenders to Vodafone Idea NSE -2.21 % (Vi) has sought the finance ministry’s intervention to provide some relief to the cash-strapped operator, raising concerns over the telco’s survival amid dwindling cash balances.

The company’s shares plunged as much as 15% on the BSE Thursday, ending 8.8% down at Rs 9.07, after it announced a loss of Rs 7,000 crore in the March quarter on Wednesday.