Birla is ready to hand over the PSU with a sense of duty towards 27 crore Indians, demanding by writing a letter to the cabinet secretary
New Delhi, Aug 2 (IANS)| Aditya Birla Group Chairman Kumar Mangalam Birla has written to the Cabinet Secretary saying that he is ready to hand over his stake in Vodafone-Idea to any government entity. In a letter to Cabinet Secretary Rajiv Gauba on June 7, Birla said, “With a ‘sense of duty’ towards the 27 crore Indians associated with Vodafone Idea, Birla is ready to hand over his stake to a public sector unit (PSU). which is a Government entity or any domestic financial entity, or any other entity which the Government may deem fit to carry on the Company.”
Birla said VIL is trying to raise Rs 25,000 crore to maintain VIL’s operations and pay regulatory and government dues. He said foreign investors wanted to see a clear government intent for the three-player telecom market. In the letter, Birla sought clarity on adjusted gross revenue (AGR), a substantial moratorium on spectrum dues and floor pricing, saying that without immediate and proactive government support, VIL’s operations would be at an ‘irreversible point of collapse’.
He also said that investors have also sought clarity on these issues. Birla said he and his team would be happy to urgently explore all possible options to save the company and work with the government without considering our personal interest.