Vodafone Group CEO Nick Read rules out fresh fund infusion in Vi

Vi has a debt of about Rs 1.8 trillion, including deferred spectrum obligations and AGR dues

Vodafone Group Plc has ruled out any further equity infusion in its debt-ridden telecom joint venture in India.

While the UK-based telecom major did not comment on partner Kumar Mangalam Birla’s offer to sell his stake in Vodafone Idea (Vi), its chief executive officer Nick Read, on July 23, reiterated the company’s decision of not infusing further capital in Vi.

On the company’s plans to support Vi, which is struggling to raise fresh capital, Read, speaking during an investor conference call, said, “We as a group try to provide them as much practical support as we can, but I want to make