The government is examining proposals from three telecom companies keen to opt for converting interest on the deferred spectrum and adjusted gross revenue (AGR) dues into equity, Telecom Minister Ashwini Vaishnaw said in the Rajya Sabha on Friday. The minister -- responding during Question Hour to a query if the government has any equity in private telecom firm Vodafone -- said a one-time option was given to telecom companies to either pay upfront the interest on AGR dues or convert it in the form of equity in lieu of that as part of the structural reforms announced in September last year.