The only option

Govt should aim to move out of Vodafone Idea quickly

The Union government will now become the largest shareholder in the telecommunications major Vodafone Idea, which has about 270 million subscribers in India. The company was due to pay a large sum — interest on the deferred payments for spectrum and adjusted gross revenue dues — but the option of converting this into equity was made available and taken. As a result, the government will now own 35.8 per cent in Vodafone Idea. The company has said this does not amount to nationalisation, with management control remaining in private hands. It has also indicated that the government will not interfere