Top headlines: Govt becomes Vi's largest shareholder; IPL gets new sponsor

Business Standard brings you the top headlines on Tuesday

Govt set to become largest shareholder of Vi, to own 35.8% stake

The government is set to become the largest shareholder of Vodafone Idea as it has opted to convert interest on deferred spectrum and adjusted gross revenue dues into equity.

The Centre in its telecom reforms package last October granted telecom companies a four-year moratorium on spectrum and AGR dues. Companies were also granted an option to convert interest on deferred liabilities into equity. Read more

Tata Group to replace Vivo as IPL title sponsor from this year

One of India's largest business conglomerates, the Tata Group, will replace Chinese mobile manufacturer Vivo as the Indian Premier League's title sponsor from this year, the event's governing council decided in a meeting on Tuesday.

"Yes, Tata group is coming in as IPL title sponsor," IPL chairman Brijesh Patel confirmed the development to PTI. Read more

Omicron to infect more than half of Europe's population in 6-8 weeks: WHO

There were more than 7 million new cases of the omicron variant of COVID-19 across Europe in the first week of January, more than doubling in just two weeks, the World Health Organisation said.

WHO Europe director Dr Hans Kluge said at a media briefing on Tuesday that 26 countries in its region reported that more than 1% of their populations are being infected with COVID-19 each week, warning there is now a closing window of opportunity for countries to prevent their health systems from being overwhelmed. Read more

Supreme Court reserves verdict on pleas of Future Group firms

The Supreme Court on Tuesday reserved verdict on a batch of pleas filed by Future Group firms against a Delhi High Court order declining stay on an arbitration tribunal decision refusing to interfere with the Emergency Award (EA) of the Singapore International Arbitration Centre (SIAC).

"We reserve the order. All the four SLPs (special leave petitions) are over. A lot of homework for us. Anyway I will not write lengthy judgement," a bench headed by Chief Justice N V Ramana said. Read more