Delayed decision

Govt should have moved fast in Vodafone Idea matter

The Union government has finally decided to pick up a 33 per cent stake in Vodafone Idea, becoming the biggest shareholder in the financially stressed telco. On the face of it, this is a positive development. However, the delay in the government’s decision has done the telco and the sector much harm. The idea behind the interest-to-equity conversion move was to prevent the telecom industry from becoming a duopoly, which could have anti-consumer consequences. But the belated decision has failed to arrest the fear over the telecom industry turning into suchlike. This is largely because the telco has lost a