Vi's fundraising put on hold as government delays equity call

 Vodafone Idea's search for a lifeline turned longer and tougher on Tuesday even as it continued to lose customers and delay vendor payments. Vi's much needed Rs.1600-crore fund raising plan got stuck due to the government's silence on picking up a proposed 33 % equity in the financial stressed telecom. On Tuesday Vi informed that the shareholder resolution for issue of optionally convertible debentures to American Tower Corporation(ATC) had lapsed in the absence of an approval from the government for conversion of interest on adjusted gross avenue and spectrum dues into equity.