Vodafone Idea Will Close If Government Doesn’t Provide Any Relief: Kumar Mangalam Birla

Economy
Vodafone Idea Will Close If Government Doesn't Provide Any Relief: Kumar Mangalam Birla

Mr Birla said Vodafone Idea will have to opt for insolvency route in the absence of relief.

Vodafone Idea will have to be closed down if the government doesn’t provide relief that the company has sought, its chairman Kumar Mangalam Birla said on Friday.

“We will have to shut shop,” Mr Birla said on a query about the course of action for the company going ahead in the absence of government relief. He was speaking at the Hindustan Times Leadership Summit here.

Mr Birla indicated that his group will not invest any money in the company in the absence of relief from the government. “There is no sense that good money should follow bad money,” he said.

Written by Anindita Ghosh