Ravinder Takkar: Birla, ABG will Continue to Support Vodafone Idea

On Thursday, in an internal communication, Vodafone Idea MD Ravinder Takkar has reassured employees that despite Birla's resignation from the board, the ABG will continue to provide "support and guidance" to the telco.

Birla will Continue Support: Ravinder Takkar

Notably, Ravinder Takkar has addressed the telco's employees for the first time since Birla's letter became public.

Ravinder Takkar had also detailed the changes that took place in the Board following Wednesday's events. "Even as Mr. Birla steps down from the board, he and the Aditya Birla Group will continue to provide support and guidance to the company, in line with the stated position of the group. We will therefore continue to get benefit of his experience and support," said Takkar.

He also said, "I would urge all of you to continue to remain focused on providing quality service to our customers, sustain intensity in the market to win and deliver our goals".

Birla stepped down on Wednesday, and Himanshu Kapania replaced him at the helm of the telco. He was the former managing director of Idea Cellular before its merger with Vodafone India.

Relief Coming for Vodafone Idea?

In the aforementioned letter, Birla had offered the ABG's 27.66% stake in Vodafone Idea to keep the company afloat. He had also said that without government's help, the telco would surely sink. The letter had also broke the news that neither Vodafone Group nor ABG will infuse any fresh equity in the telco. Further, Vodafone CEO Nick Read reiterated that stance in a earnings call on July 23.

However, the Center has been working to prepare a relief package to the telco. The center will announce the come the end of month. The package, that will also benefit Vi, can include a variety of financial incentives. These can include allowing surrender of spectrum, reduction of bank guarantees and phasing out or reducing levies such as licence fees and spectrum usage charges. It can also include redefining AGR to exclude non-telecom items, which will prove vital in the long run for the industry.