New Delhi: Clarifying on a media report that US-based Tillman Global Holdings (TGH) is considering making a heavy investment in Vodafone Idea, the CEO of the debt-ridden telecom company said that they are exploring fundraising opportunities and will comply with SEBI disclosure obligations.
The report claimed that the US-based PE firm has appealed to the Indian government to restructure the package to give the telco breathing space. If the deal passes the test, TGH will get the promoter status and take control from existing promoters Aditya Birla Group and Vodafone Plc.
Meanwhile, in a huge relief for the shareholders of Vodafone Idea, the Supreme Court today modified its earlier order in the adjusted gross revenue (AGR) case and allowed the government to consider all adjusted gross revenue (AGR) dues for reconsideration.
The top court’s order comes as a major relief for Vodafone Idea which had filed its plea covered only the additional AGR demand of Rs 9,450 crore or the entire dues.
The apex court Vodafone Idea’s petition appealed for relief on both the additional AGR demand and the reassessment of all dues up to FY17. The SC said the government is free to consider both aspects while reviewing the company’s case.