💨 Abstract

Vodafone Idea shares rose 10% on Tuesday as the Indian government announced plans to convert part of the company's outstanding spectrum auction dues into equity, thereby reducing the firm's debt. The government's stake in Vodafone Idea will increase to 48.99% from 22.6%. This move is expected to help the telecom company manage its financial obligations.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖