The government’s stake in Vodafone after the conversion could be more than 30%, which would make it one of the largest shareholders in the company along with UK’s Vodafone Group and Aditya Birla Group. Among the country’s three major telecom players, including Bharti Airtel and Reliance Industries’ Jio, the government package was seen as a bailout for Vodafone Idea, which was on the verge of bankruptcy.
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