Key Points:
- Airtel will buy 4.7 present stake
- Vodafone Idea Limited was not able to raise fund to clear dues of Indus Towers
- Airtel has a condition as well
Vodafone Idea is not having a good time financially as recently government purchased a few percentages of shares of the telecom operator in the country and now the leading telecom operator Airtel to acquire share of Vodafone Idea.
It is said that Airtel will buy 4.7 percent stake but there is a condition as well. Airtel has a demand that the fund will be used for investment in Vodafone Idea and clearing dues of mobile tower company.
Vodafone Idea Limited (VIL) was not able to pay dues of Indus Towers, and both VIL and promoter Vodafone have proposed a payment plan to clear the outstanding amount by July 15.
We don’t have any we don’t have any information about the transaction details of the latest move.
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