Friday, February 14, 2020

Telco distress call: SBI says it’s prepared for the worst

Shares of SBI fell 8%, while other lenders with large exposure to telcos like Yes Bank and IndusInd Bank also dropped up to 5% on Friday. Analysts fear that the SC order could lead to a Vodafone Idea shutdown. “It may result in Rs 1.2-lakh-crore debt default, large-scale job losses and subscriber churn,” said Motilal Oswal in a report.

from Banking/Finance-Industry-Economic Times https://ift.tt/38ACGBe

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