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Published: Nov 30, 2022
Updated: Nov 30, 2022
With the Indian government delaying its plans to pick up a 33 per cent stake in Vodafone Idea, the company is headed towards bankruptcy. Both promoters, Vodafone plc of the UK and the Aditya Birla group, are not ready to put additional money into the company. A lifeline deal with American Towers has also lapsed. Vodafone Idea is already defaulting to its suppliers and has sought a debt restructuring with the lenders.
The lenders have Rs 24,000 crore of exposure to the company and are worried over the fate of their money. The biggest losers, of course, are the shareholders of Idea Cellular who have seen their wealth depleting with Kumar Mangalam Birla at the helm. In the last 12 years, the wealth destruction of Idea shareholders is so bad that one wonders who came up with the harebrained idea of a merger with Vodafone’s India operations.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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