Vodafone in focus - Latest News
Vodafone - latest news on the stock
1) Vodafone Idea Ltd. (VI), a telecom operator, will be in the spotlight during trade after announcing that the Central government will convert its outstanding spectrum dues into equity shares.
2) VI plans to issue 3,695 crore equity shares at a price of Rs 10 per share, which will convert dues worth Rs 36,950 crore into stock. However, the last closing price for Vodafone Idea shares was Rs 6.8 each.
3) After the conversion, the Indian government’s stake in Vodafone Idea will rise from 22.6% to 48.99%. The company clarified that the promoters will maintain operational control despite the government’s increased stake.
4) This is just for information
5) This is neither buy nor a sell call. Telecome stocks will be in focus