Vodafone idea share price zooms 10% after THIS update on GoI stake raise; Do you own?
Telecom firm Vodafone Idea share price zoomed over 10 per cent to ₹8.04 apiece in Monday’s trading session after Government of India (GoI) increased its stake from 22.60 per cent to 48.99 per cent by converting a portion of the company’s spectrum payment dues into equity shares valued at ₹36,950 crore.
Vodafone Idea share price has been trading in green from past five sessions by rallying over 12.92 per cent.
What does it mean for Vodafone Idea?
GoI’s move is anticipated to lower the telecom company’s statutory liabilities by that amount, enhancing its commercial viability and helping to avoid a duopoly in the industry dominated by Jio and Bharti Airtel.
Vodafone UK’s shareholding in Vi decreased to approximately 16.1% from around…
