Voda Idea turnaround expected soon, negotiations on to raise funds: Govt

The telecom firm is in advanced negotiations with three to four private equity funds to raise about Rs 20,000 crore

In a recent meeting with Aditya Birla Group Chairman Kumar Mangalam Birla, top officials of the Department of Telecommunications (DoT) were told that Vodafone Idea Ltd (VIL) was in advanced negotiations with three to four private equity funds in its effort to raise about Rs 20,000 crore.

Confirming the development, a top DoT official said, “We had a meeting with Birla who is one of the promoters of VIL and is spearheading the fundraise. We were told that negotiations are on with 3-4 private equity funds to raise money. While no timeline was discussed, we are sure that VIL will be