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Finance Ministry cold to Bharti Airtel plea on dues-to-equity switch
If Airtel's request is accepted, the government would have 2 to 4 per cent equity in the telco
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Asit Ranjan Mishra New Delhi
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The Union finance ministry is not keen on considering Bharti Airtel's request for converting its ₹41,000 crore adjusted gross revenue (AGR) dues into government equity, it is learnt.
'They (Airtel) had approached us. But we told them to follow the legal process on their AGR dues. In the case of Vodafone, the spectrum payment dues were converted into equity,' a senior government official told Business Standard.
If Airtel's request is accepted, the government would have 2 to 4 per cent equity in the telco.
Email queries sent to the finance ministry and Airtel remained unanswered till the time
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