Probably that’s the best possible outcome for both Vi and gov. From what I remember govt converted its dues to equity at face value. So, if govt sells its shares at market value it will lose close to 30 %. But that seems to be the best outcome for Govt to recover anything. I agree that 20 % market share in a huge country like India is attractive, but the company has a huge debt and huge payable outstanding and any new investor should be ready to make a lot of investments to stabilise the market share. The AGR ruling was a huge blow to the company.
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