Union telecom minister Ashwini Vaishnaw has said that for the telecom operators that have proposed to convert their interest liabilities payment into government equity, their present and future debt liabilities will continue to remain with them.
According to Vaishnaw, the government will only remain an investor and the companies, as usual, will be run by the professionals.
Lately, Vodafone Idea (Vi), Tata Teleservices Limited (TTSL) and Tata Teleservices (Maharashtra) Limited (TTML) have opted for conversion of their respective interest liability payable on dues to the government into government equity. This is one of the options made available by the government to the telcos as part of the revival plan. As of now, with the three telcos opting for conversion of their interest dues into government equity, the government now holds stakes in the three companies.