January 21, 2022

The World Live Breaking News Coverage & Updates IN ENGLISH

The World Live Breaking News Coverage & Updates IN ENGLISH

VIL, Tata Teleservices, TTML will not become PSUs: Govt

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VIL, Tata Teleservices, TTML will not become PSUs: Govt
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VIL, Tata Teleservices, TTML will not become PSUs: Govt
VIL, Tata Teleservices, TTML will not become PSUs: Govt

NEW DELHI: Telecom operators Vodafone Idea Ltd (VIL), Tata Teleservices Ltd and Tata Teleservices (Maharashtra) Ltd (TTML) will not become public sector undertakings after their interest payable on dues are converted into government equity, the communications ministry said on Wednesday.
The three debt-ridden companies have proposed to convert their interest liability payable to the government into equity.
“These three companies will not become PSUs. These three companies will continue to be managed as professionally run private companies,” Telecom ministry said in a statement.
Post conversion, the government would have 35.8 per cent in VIL and the shareholding in TTML at around 9.5 per cent.

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