Vodafone Idea approves conversion of spectrum interest, govt dues into equity

Debt-ridden Vodafone Idea has decided to opt for converting about Rs 16,000 crore interest dues liability payable to the government into equity which will amount to around 35.8% stake in the company, as per a regulatory filing of the telecom firm. If the plan goes through, then the government will become one of the biggest shareholders in the company which is reeling under a debt burden of about Rs 1.95 lakh cr.

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