Rumours of Vodafone Idea giveaway persist as Birla steps down

Indian billionaire Kumar Mangalam Birla has stepped down as non-executive chairman of Vodafone Idea sending the troubled telco’s shares into freefall as rumours that its main shareholders are prepared to give away their stakes for free continue to swirl.
There is doubtless plenty of mileage left in this Indian telco saga, but the latest instalment further indicates how precarious the company’s position actually is.
On Wednesday the company confirmed to the Indian stock exchange that