Govt will be only an investor in telcos post conversion of liabilities into equity: Ashwini Vaishnaw

Union telecom minister Ashwini Vaishnaw on Wednesday said the present and future debt liabilities will continue to remain with the telecom companies that have proposed to convert their interest liabilities payment into equity.Debt-ridden Vodafone Idea Ltd VIL, Tata Teleservices Ltd TTSL and Tata Teleservices Maharashtra Ltd TTML have proposed to convert their respective interest liability payable on dues to the government into equity.


PTI | New Delhi | Updated: 12-01-2022 20:01 IST | Created: 12-01-2022 20:01 IST
Govt will be only an investor in telcos post conversion of liabilities into equity: Ashwini Vaishnaw
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Union telecom minister Ashwini Vaishnaw on Wednesday said the present and future debt liabilities will continue to remain with the telecom companies that have proposed to convert their interest liabilities payment into equity.

Debt-ridden Vodafone Idea Ltd (VIL), Tata Teleservices Ltd (TTSL) and Tata Teleservices (Maharashtra) Ltd (TTML) have proposed to convert their respective interest liability payable on dues to the government into equity. Post conversion, the government will have stakes in the three companies.

''Government will remain an investor only. The companies will be run by the professionals. All the debt liabilities will remain responsibility of the companies. The companies have given us commitment,'' Vaishnaw told PTI in an interview.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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