Finance ministry allows Vodafone Idea to convert Government dues to equity

The Finance ministry of India has cleared a proposal to convert Vodafone Idea’s dues worth Rs 16,130 crore into equity. Vi now needs the telecom department to finalize the transaction.This is crucial for Vodafone Idea to finalize its external fundraise via equity. Vi is also talking to banks for debt financing, to invest in its 4G network and roll out 5G services.

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