TECH SUPPLIER Nov 2022 - Market Note - Doc # AP47357221
Vodafone Idea Sells Stake to the Government of India
Vodafone Idea Limited (VIL), India's third largest communications SP (CSP) recently sold a large equity stake to the government of India. At first glance, this looks to be an extremely regressive move, but in reality, there was no other choice available in the short term to stave off a likely default. Although significant headwinds persist, VIL has a window of opportunity now to get its house in order and secure its future viability as a major CSP in India's telecom sector.