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Govt unlikely to use Vodafone Idea's bank guarantees

Feb 19, 2020 11:31 IST

The government is unlikely to invoke Vodafone Idea’s bank guarantees for now, even as the officials of the telecom and finance ministries met Cabinet secretary Rajiv Gauba to discuss ways to ensure that the sector retains three private players, officials told the Economic Times. Government could consider postponing or staggering other payments due to it, in order to give some flexibility to telcos to cough up money towards AGR dues, the report mentioned. After plunging for over 11% on Tuesday, scrips of Vodafone Idea were trading 8.33% higher at 3.25 on NSE on Wednesday.

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