Vodafone Idea remains sole telco to offer equity stake to govt

Tata group-owned telecom companies withdraw their offers over differences in calculations

Tata Teleservices (TTSL) has withdrawn its proposal to offer equity in lieu of interest on deferred liabilities to the government leaving Vodafone Idea (Vi) as the only telco with an active offer.

The finance ministry is currently examining Vi’s proposal to convert interest on deferred spectrum and adjusted gross revenue dues into equity and the process is expected to be completed in six weeks. Vi has estimated net present value of interest (NPV) at Rs 16,000 crore and that would result in issuance of 35.8 per cent stake to the government.

According to a report in The Economic Times, TTSL has followed