NEW DELHI: As Vodafone Idea faces a survival battle due to the massive AGR (adjusted gross revenue) bill of over Rs 53,000 crore, Vodafone’s global CEO Nick Read will be visiting India later this week and he is expected to impress upon the government for a bailout.
Sources said Read, who had earlier expressed doubts over the continuation of the Indian business but later retracted, has sought time to meet telecom minister Ravi Shankar Prasad.
Vodafone’s India partner Kumar Mangalam Birla has also met government officials for a relief, and these include Prasad and finance minister Nirmala Sitharaman.
The telecom company has said that it will fail to pay the AGR dues if it is not given a bailout.
Sources said Read, who had earlier expressed doubts over the continuation of the Indian business but later retracted, has sought time to meet telecom minister Ravi Shankar Prasad.
Vodafone’s India partner Kumar Mangalam Birla has also met government officials for a relief, and these include Prasad and finance minister Nirmala Sitharaman.
The telecom company has said that it will fail to pay the AGR dues if it is not given a bailout.
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