The joint venture between UK-based Vodafone Group Plc and the group controlled by Indian billionaire Kumar Mangalam Birla had already been struggling in the face of a devastating price war since the entry of Mukesh Ambani’s Reliance Jio Infocomm Ltd. in 2016. Vodafone Idea
has shed millions of subscribers amid intense competition, and has said it may no longer be a “going concern.”
appeals to a very different class of investor,” said Vivekanand Subbaraman, associate vice president, Ambit Capital Pvt. “It is a market way of saying that if it survives, it is going to be worth a lot more. ”
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