Vodafone Idea shares zoom 18% on in-principle Cabinet nod for bank guarantee waiver

Vodafone Idea's shares surged 18% after the Indian government waived bank guarantees for past spectrum purchases. This move significantly benefits Vi, which faced a Rs 24,700 crore bank guarantee burden. While Airtel and Jio also benefit, their obligations are considerably smaller. Vi's financial struggles prompted the waiver request, aiming to improve its credit access.