 "Just a day ahead of the hurriedly called Vodafone Idea (Vi) meeting meant to soothe the nerves of investors amid the company's sliding stock price and a negative narrative around it, the telco announced a $3.6-billion (Rs 30,000 crore) deal with glob")
Vodafone Idea (Vi) has amended its shareholders’ agreement to lower the qualifying threshold for promoter groups, thereby retaining governance and management rights with the Aditya Birla Group (ABG) and UK-based Vodafone PLC. ABG’s stake in the telco had fallen below the previous ‘qualifying threshold’ earlier this month after Vi converted dues to the government into a substantial 26.3 per cent equity stake.
The existing shareholders’ agreement dated 20 March 2017, between certain Vodafone group companies and Aditya Birla group companies, provided that each promoter group would retain governance and management rights so long as it held at least
