Government rescues Vodafone Idea, converts dues into 35% stake
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As Reliance and Airtel race ahead to provide 5G coverage across India, they keep gaining more subscribers at Vodafone Idea's expense. The joint venture between Vodafone and Aditya Birla Group's Idea, has been unable to launch 5G, as it struggles to pay back AGR dues. But things might change for the better, as the Indian government has agreed to convert the Rs 16,000 crore it owns as interest on adjusted gross revenues, into equities.