Vodafone Idea Will Not Exit Six Telecom Circles, Telco Clarifies Stance in New Statement

While Vodafone Idea held the pedestal of being the top telecom operator in the country for a short while after its merger, the position was soon taken away from it. There is also no denying that the telco has been caught in a financially troubling situation with falling revenue market share (RMS) in select circles. But, with that being said, Vodafone Idea has also firmly denied that it wouldn’t be shutting down operations in the circles which have been noted in a new report. A news report which has been floating online since Friday had noted that Vodafone Idea could be closing down its operations in six circles because of extremely low revenue market share in these areas. Vodafone Idea, in its statement, has denied saying that it would not resort to such a move.

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Vodafone Idea RMS Stooping Low in Select Markets

The six circles in questions were Himachal Pradesh, Bihar, Odisha, Jammu and Kashmir, North East and Assam. It is also worth noting that this new report came from Bank of America Merril Lynch, which also noted that in these telecom circles, Vodafone Idea had less than 20% revenue market share. The six circles noted above were then listed as the likely places from where Vodafone Idea could withdraw operations. JM Financial had also come up with a similar report where it said that the telecom operator had lost revenue in the circles where it had completed the network integration exercise.