Govt open to a comprehensive package for Vodafone Idea, with conditions

It wants promoters to pitch in first or bring new investors

The government is open to the idea of a comprehensive package for the survival and revival of Vodafone Idea (VIL), besides what it has offered under a relief package for telecom companies, including converting part of their dues into equity – an option already availed by the debt-ridden telco.
 

But any such measure is contingent on the telco’s existing promoters Aditya Birla group and Vodafone plc putting in additional funds or bringing in new investors, according to top government sources.
 

VIL has publicly said that it is still awaiting communication from the government on converting debt into equity.
 

The sources