Telecom operators Vodafone Idea Ltd (VIL), Tata Teleservices Ltd and Tata Teleservices (Maharashtra) Ltd (TTML) will not become public sector undertakings after their interest payable on dues are converted into government equity, the communications ministry said on Wednesday.
The three debt-ridden companies have proposed to convert their interest liability payable to the government into equity.
"These three companies will not become PSUs. These three companies will continue to be managed as professionally run private companies," the Telecom ministry said in a statement.
Post conversion, the government would have 35.8 per cent in VIL and the shareholding in TTML at around 9.5 per cent.