Vodafone-Idea
Telecom Minister Jyotiraditya Scindia clarified on July 2 that the government has no intention of converting Vodafone Idea (VI) into a government company (PSU), even if the company is looking for an option to change the share. He told CNBC-TV18, the government cannot take more than 49% equity. We do not intend to make VI a PSU.
The minister said that every telecom operator has the right to demand a change in the stake in lieu of the outstanding amount from the government, but the telecom department (DOT) and the Ministry of Finance will be done well by the Ministry of Finance. He said, every operator has the right to demand equity conversion. Bharti Airtel has also done this. After completion of the investigation of DOT, we will decide on this.
Two companies dominated not right
Scindia also spoke about competition in the telecom sector. He said, only two companies dominated in any sector. There are four companies in mobile telecom in very few countries. He also admitted that India's telecom companies have become an example in the world in terms of capital expenditure. He said, the expenditure on the telecom sector in India is giving excellent returns compared to the rest of the countries. Now it depends on companies and their management what path they choose to earn.
Information also given on satellite communication and tRAI
On the issue of fixing the price of spectrum for satellite communication (SATCOM), Scindia said that TRAI (TRAI) has interacted with all the parties before making recommendations related to it. He said, SATCOM is a common spectrum, it cannot be paid like a private spectrum.
Scindia also said that the process of approving TRAI's recommendations usually takes a few months. He expressed confidence that TRAI has given its recommendations only keeping in mind the words of all the parties.
Source: www.tv9hindi.com
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