VODAFONE IDEA MANAGING director and CEO Ravinder Takkar said on Wednesday the government had indicated to the telecom company, it would neither participate in the management nor nominate board members. Takkar added the existing promoters are committed to the company.
The articles of association, Takkar said, have been amended to give voting rights to shareholders with a stake of over 13%. This would enable the promoters to participate in decision-making even if their stake fell to under 21%, as in the case of Aditya Birla Group whose stake will go down to 17.8%.
Speaking to reporters, Takkar said, “In all of our interactions with the government, leading up to the package itself and even after the announcement of the package, it has been very clearly stated by the government that they do not want to run the company, they do not have the desire to take over operations of the company...they want us to run the company and that's what we intent to do going forward.”
This story is from the January 13, 2022 edition of Financial Express Mumbai.
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This story is from the January 13, 2022 edition of Financial Express Mumbai.
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