The Supreme Court has modified its earlier order to allow the government to consider relief on all Voadone Idea dues, a move that sent the company’s share price soaring 10%.
Vodafone Idea had filed a review petition in Supreme Court to seek relief on both additional AGR dues and the reassessment of all dues up to FY17.
Separately, Vodafone Idea informed the stock exchanges that the company’s board isn’t considering a fundraising proposal, amid media reports that US-based private equity firm Tillman Global Holdings is in negotiations to invest $4-6 billion (about ₹35,000 to ₹52,800 crore) in the company to buy out promoters Aditya Birla Group and the UK’s Vodafone Group Plc.
This is a developing story.