So is Vi going to be sold? A US company has offered ₹53,000 crore; it previously saved this sinking telecom operator.

News Topical, Digital Desk : US-based public sector company Tillman Global Holdings ( TGH ) is expected to invest $4-6 billion (approximately Rs 35,000-52,800 crore) in Vodafone Idea (Vi). The firm is also in talks to acquire operational control of the cash-strapped and loss-making telecom operator.
However, this investment will only be possible if the central government provides a comprehensive package covering all of Vi's liabilities, including dues based on adjusted gross revenue (AGR) and spectrum payments.

TGH will become the promoter

According to media reports, if the deal goes through, TGH will assume promoter status and take control from existing promoters Aditya Birla Group and UK-based Vodafone. The Indian government (which holds a roughly 49% stake in Vi) will remain a passive minority investor in the company.

Detailed proposal submitted

According to media reports, New York-based investment firm TGH is not seeking a waiver of all outstanding dues, but rather a restructuring of liabilities. This would provide some relief to Vi. TGH has also submitted a detailed proposal to the government.

The conversation has already taken place

TGH invests in the rapidly growing sectors of digital and energy transition infrastructure. The company has the expertise and fundamentals to run a telecom operator, as its chairman and chief executive, Sanjeev Ahuja, was credited with rescuing and reviving the failing French telecom company Orange from 2003-2007.
TGH has invested in telecom infrastructure, including fiber and tower assets, in several countries. It's worth noting that TGH has previously discussed investing in Vi, with discussions lasting approximately 18 months.

Relief from the Supreme Court

Last week, the Supreme Court granted relief to Vi. However, there is confusion as to whether this order applies to all AGR dues or only the additional demand of approximately ₹9,000 crore. The Department of Telecommunications (DoT) had previously prepared several options to provide relief to Vi on its outstanding regulatory dues of ₹84,000 crore, including interest and penalties. At that time, Vi had expressed its inability to make the payment.

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