British telecom giant Vodafone PLC, which owns a majority stake in Vodafone Idea, blamed its share of losses related to its Indian arm on the adverse legal judgements by the Supreme Court, and decided to value its Vodafone Idea shares at zero.
Besides, the British operator said it would have an additional potential exposure of Rs 8,400 crore for the contingent liabilities of the Indian telecom company.
“Significant uncertainties exist in relation to Voda Idea’s ability to generate the cash flow that it needs to settle, or refinance its liabilities and guarantees as they fall due, including those relating to