I also want to mention that we will hope that the government in subscribing to this equity will also make a return on this equity stake. So in a way The government has been very consistent in telling us that they want the promoters to run this company going forward as well. I don’t expect that to be deviated Vodafone Idea Ltd. The government is set to own a 35.8 per cent stake in Vodafone Idea we have a stretched balance sheet. And I think anytime there’s an option to convert that debt into equity is considered positive for the company. Especially considering the fact that most of the debt is to the Government of India he added. Takkar further added that the government had no intention of nominating Board members and that the Board will continue to function as is. The Government of India has no desire to run Vodafone Idea as indicated in the interactions with the company so far it was clear to us that actually converting some of that debt into equity is a good option for the company to reduce debt going forward. And hence The company has a significant amount of debt the Department of Telecom had announced a relief package under which operators were given a four-year moratorium on payment of spectrum and AGR dues. Telecom companies were also given the option of converting the interest payable for the four years into equity. In the case of Vodafone Idea 000 crore for which the operator has offered 35.8 per cent stake to the government. The shares may be held through the Statutory Undertaking of the Unit Trust of India on behalf of the government or by any trustee-type or other suitable arrangement. Since the average price of the company’s shares was below par value on the cut-off date the board of the company will continue. And all the operations as they have been will continue the way they have been so far Takkar said at a press briefing on Wednesday.
