Business Standard

Telcos in deep trouble, spectrum auction won't help in raising funds: Sibal

Kapil Sibal said that the telecom companies do not have the capacity to participate in spectrum auctions especially after the Covid-19 outbreak

Kapil Sibal
Premium

"I think Vodafone has lost at more than 30 billion dollars already and Idea and Airtel don't have the capacity either because they have to discharge their liabilities, so who can participate in the auction?" he said

ANI
Congress leader Kapil Sibal on Saturday said that the telecom companies do not have the capacity to participate in spectrum auctions especially after the Covid-19 outbreak and auction will not help the Central government to raise funds.

Sibal told ANI, "As far as the auctions are concerned, which telecom company has the capacity to participate in an auction? I mean they are in such deep trouble and such deep debt, they have not been able to discharge the liabilities that have been foisted on them pursuant to a judgment of the court and they are committed to doing that

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 26 2020 | 2:39 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com