Vodafone Idea Ltd (VIL), Tata Teleservices Ltd and Tata Teleservices (Maharashtra) Ltd (TTML) will not become public sector undertakings after their interest payable on dues are converted into government equity, the communications ministry said.
Telecom ministry stated that these three companies will not become PSUs. and will continue to be managed as professionally run private companies.
The three debt-ridden companies have proposed to convert their interest liability payable to the government into equity.
Post conversion, the government would have 35.8 per cent in VIL and the shareholding in TTML at around 9.5 per cent.
(With inputs from PTI)
