In 2016-17, the Top management had implemented a combination of merger and turnaround strategy, am I correct? [P.S.: "Vodafone Idea had reported a â?¹ 73,000 Cr loss in fiscal year ended March, 2020." - I will never forget reading this in the news. I wonder how even a turnaround startegy saved them after their stock prices declined so sharply.]
Vodafone had a contingent liability - AGR case which was decided by court and hence the loss. There are multiple angles to this. With Jio a lot of telecom companies had to shut down. Market share was lost rapidly. With the amount of debt, it is difficult for vodafone to rapidly turnaround. They are looking for investors who can invest money.