Markets regulator Sebi has exempted the government from making an open offer to the shareholders of Vodafone Idea (VIL) pursuant to its proposed acquisition of over 33 per cent stake in the telecom operator on conversion of dues into equity. As per the Sebi, the acquisition of shareholding in VIL by the Government of India (GoI) is proposed with the sole intent of saving the larger public interest.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.
