The government on February 3 cleared the equity conversion, which gave it a 33.1% stake in the distressed telco, making it the single-largest shareholder. This holding will be diluted after the issue to ATC. Analysts said that the transaction marks a respite for the telco, which is finding it difficult to pay off the dues of other vendors such as tower firm Indus Towersfrom Stocks-Markets-Economic Times
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