Vodafone Idea (vi) will be getting a push of 35,000-40,000 crores as TGH (Tillman Global holdings) looks to invest in $6 billion and will assume an operational control over the telecom company.
If the deal goes through, TGH will acquire promoter status and take control from the existing promoters — the Aditya Birla Group and the UK-based Vodafone Group,” one of the sources said.
The Indian government, which holds nearly 49% of Vi’s equity, is expected to remain a passive minority shareholder, the person added.
The condition that TGH has put is that Indian government will provide a cover for all the liability on Vi including dues based on adjusted gross revenue (AGR). Thats a very big condition to bargain on we will see how Indian Government and promoters reacts to the investment condition.
If this deal goes through then we will see Vi to become an internationally controlled telecom operator with Indian Government as a passive partner of the company.
Source: economic times, interpretation: the mercury.