Kumar Manglam Birla, Chairman, Aditya Birla Group, has written to the Cabinet Secretary saying he is ready to hand over his stake in Vodafone-Idea to any government entity.
Birla said VIL has been trying to raise Rs 25,000 cr to sustain VIL operations and pay regulatory and governmental dues. Foreign investors wanted to see a clear government intent to have a three-player telecom market. He sought clarity on adjusted gross revenue, adequate moratorium on spectrum dues and floor pricing adding that without immediate and active government support VIL’s operations will be at an “irretrievable point of collapse”. He also said investors have sought clarity on these issues. .and his team would be more than happy to work with the government to urgently explore all possible options to save the company and without any consideration to our private interest.