Vodafone CEO Nick Read on Tuesday said its Indian business Vodafone, Idea may collapse soon be headed for liquidation unless the government intervene to relax demands for mobile spectrum fees. “It’s fair to say it’s a very critical situation,” Read said
Notably, the Supreme Court of India has recently ordered Vodafone Idea to pay Rs. 28,309 crore in past dues to the government. Vodafone, which holds 45% stake in Vodafone Idea Pvt. Ltd, notably has demanded the SC to relax the time period until which it could pay the aforementioned dues.
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