The Centre has no plans to play a role in managing the operations of Vodafone Idea (Vi), despite possibly holding a 35.8% stake in the loss-making telcom firm, a senior officials said.<\/p>\n\n\n\n
The officials also said that the government has no intentions of converting the carrier into a state-run company, nor is it keen on a board seat. It plans to exit once the loss-making telco stabilises, the officials added.<\/p>\n\n\n\n
Shares of the loss-making telecom company Vodafone Idea on Wednesday recorded 6.78% higher at Rs 12.6 apiece at 10:15 am, a day after the stock tumbled 20.5% to Rs 11.8 on the National Stock Exchange.<\/p>\n\n\n\n
After the company\u2019s announcement on Tuesday that the Government would be its biggest shareholder, holding a stake of 35.8% in the company, followed by its promoter group companies Vodafone (28.5%) and Aditya Birla Group (17.8%), and that it would issue shares to the Govt at Rs 10 apiece, the stock nosedived.<\/p>\n\n\n\n
After Vi\u2019s announcement on Tuesday, while the stock crashed, several analysts and global funds pointed that the development was a credit positive move from investors\u2019 view, as it would enable the telecom to raise funds, thereby creating a pathway for longer-term survival.<\/p>\n\n\n\n
The Vice President of IIFL Securities said that for the 5G space, cash flows are required, and Vi\u2019s recent development is a positive move towards debt resolution, which will attract investors.<\/p>\n","protected":false},"excerpt":{"rendered":"
After Vi\u2019s announcement on Tuesday, while the stock crashed, several analysts and global funds pointed that the development was a credit positive move from investors\u2019 view, as it would enable the telecom to raise funds, thereby creating a pathway for longer-term survival.<\/p>\n","protected":false},"author":4,"featured_media":259011,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":"","jetpack_publicize_message":"Government not interested in managing #Vi operations, stock zooms over 6%\n#Vodafone","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1497],"tags":[976,118777],"yst_prominent_words":[4358,3788,3885,21004,36708,3904,24999,20984,37891,88476,29793,15995,3970,21208],"ppma_author":[140543],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/d2r2ijn7njrktv.cloudfront.net\/apnlive\/uploads\/2022\/01\/12123920\/vi.png","jetpack_sharing_enabled":true,"authors":[{"term_id":140543,"user_id":4,"is_guest":0,"slug":"apnnewsdesk","display_name":"APN Live","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/478eacb893eda88aa6ed8d99b005bf58?s=96&r=g"}],"_links":{"self":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/posts\/258870"}],"collection":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/comments?post=258870"}],"version-history":[{"count":0,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/posts\/258870\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/media\/259011"}],"wp:attachment":[{"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/media?parent=258870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/categories?post=258870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/tags?post=258870"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=258870"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/apnlive.com\/wp-json\/wp\/v2\/ppma_author?post=258870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}