Vodafone Idea will shut shop if there is no govt support: Kumar Mangalam Birla5 min read 06 Dec 2019, 12:15 PM IST
‘There is no company in the world that can pay that kind of fine ( ₹40,000 cr) in three months,’ said the Aditya Birla Group chairman at the Hindustan Times Leadership Summit
Birla’s comments were quick to send Vodafone Idea shares tumbling in Friday’s trade, ending 5.34% lower on Friday to ₹6.92
New Delhi: Aditya Birla Group chairman Kumar Mangalam Birla on Friday warned that the group’s telecom unit, Vodafone Idea Ltd, will have to “shut shop" if there was no relief from the government following the Supreme Court ruling requiring it to pay statutory dues of ₹40,000 crore to the department of telecommunications (DoT) within three months.
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