New Delhi: The government relief measures announced last week for the telecom sector have revived Vodafone Idea Ltd. The company is now not only confident of staying in the market but is also looking at scrapping its plans to sell its assets. Vodafone Idea Limited (VI) MD and CEO Ravinder Thakkar in an interview on 22 September gave information about the company’s plans.
Ravinder Thakkar said the company will now review its plan to raise funds. The plan to sell the property may now be cancelled. We will compete with other companies in the market by raising money in other ways. The government had announced some relief measures for the telecom sector on 16 September last week. These measures acted as a lifeblood for the dilapidated telecom sector. The companies were given four years to clear regulatory dues. Along with this, 100% FDI was allowed under the automatic route and AGR was redefined.
25,000 crore, but the company is yet to finalize the name of any investor. Earlier, the promoters of the company Aditya Birla Group and Vodafone had refused to make fresh investments. The two promoters are yet to express their stand after the government announced to go ahead with reforms in the telecom sector.