The government is set to own 35.8 per cent in Vodafone Idea (Vi) after the financially-stressed telco decided to convert interest on deferred spectrum and adjusted gross revenue (AGR) dues into equity. This makes the Union government the single-largest shareholder in Vi, a joint venture between the Aditya Birla group and UK-headquartered Vodafone.
Vodafone Idea is not the only telco in which the government is picking up a stake. It would also own 9.5 per cent in Tata Teleservices (Maharashtra) Limited (TTML) through the same route, according to announcements made on Tuesday. The latest development implies government holding in four