New Equity Investors to be Vodafone Idea’s Calling Card

Vodafone Idea (Vi), a joint venture between Aditya Birla Group and Vodafone Group, will continue to scout for new equity investors and invest in new technologies, including fifth-generation-based technology, after the central government’s bailout package.

The loss-making company will be saving up to Rs 23,000 crore per annum to help it tide over its immediate cash-flow crisis. “It is a big relief to both promoters that the company will not face bankruptcy as was the case before the package,” said a source close to Vi.

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