Govt will likely be solely an investor in telcos put up conversion of liabilities into fairness: Ashwini Vaishnaw

Union telecom minister Ashwini Vaishnaw on Wednesday stated the current and future debt liabilities will proceed to stay with the telecom firms which have proposed to transform their curiosity liabilities cost into fairness.

Debt-ridden Vodafone Thought Ltd (VIL), Tata Teleservices Ltd (TTSL) and Tata Teleservices (Maharashtra) Ltd (TTML) have proposed to transform their respective curiosity legal responsibility payable on dues to the federal government into fairness. Submit conversion, the federal government could have stakes within the three firms.

“Authorities will stay an investor solely. The businesses will likely be run by the professionals. All of the debt liabilities will stay accountability of the businesses. The businesses have given us dedication,” Vaishnaw informed PTI in an interview.