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Telecom Sector Requires Support From Govt To Maintain Current 3+1 Structure: Bharti Airtel Chairman Sunil Mittal
Bharti Airtel's Sunil Mittal has a big stake in OneWeb of UK, which is now venturing into providing Internet from Space.
Billionaire Sunil Mittal, chairman of telecommunications major Bharti Airtel, has expressed hope that the government and regulators will step in to ensure that the sector maintains the present-day 3+1 structure, reports Economic Times.
Mittal said that this would ensure that the sector remains a viable place for continued investments and also added that the industry requires "long overdue" support to maintain its present 3+1 structure.
The 3+1 structure alluded to the construct which has three private sector players (Reliance Jio, Bharti Airtel and Vodafone Idea) and one government-owned operator (BSNL).
Mittal's assertion comes at a time when Vodafone Idea has been struggling to stay afloat.
Recently, billionaire Kumar Mangalam Birla had also offered to hand over Aditya Birla Group's stake in the telecom major to the government to avert an existential crisis for the firm. Thereafter, just days ago, he also stepped down as the chairman of the company.
Vodafone Idea had an AGR liability of Rs 58,254 crore, of which it has paid Rs 7,854.3 crore and Rs 50,399.6 crore is outstanding. VIL's gross debt, excluding lease liabilities, stood at Rs 1,80,310 crore as of 31 March 2021.
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