The much-awaited news for Vodafone Idea Limited seems to be finally here. Reports on the web say that the Cabinet has approved relief package for the stressed telecom sector. While the complete details of revival package are yet to come out, this is a piece of really good news for Vodafone Idea as the telco has been under financial crisis for a while. Vodafone Idea has been eagerly waiting for... Read More
The Telecom Industry in India has been facing massive financial distress as the telco giants are suffering to pay their AGR dues. Earlier, the government directed all the telcos to pay their AGR dues without any future delays. Telecom operators such as Vodafone Idea, Bharti Airtel and other stressed telcos have just paid Rs 26,000 crore towards AGR payments in the form of ad-hoc payment and buffer amount. However, the... Read More
Over the last few weeks, we have been hearing a lot about Vodafone Idea Limited and its massive financial stress. The telco has to pay over Rs 53,000 crore to the government towards AGR dues. As we reported last week, Vodafone Group CEO was about to meet government officials to discuss the AGR crisis. Nick Read, who is the CEO of Vodafone Global Plc met with the government officials and... Read More
Vodafone Idea Limited today announced the launch of TurboNet 4G services in Pune and Pimpri-Chinchwad (PCMC). The telco also successfully integrated Vodafone and Idea networks in both locations. Furthermore, Vodafone Idea said that Pune and PCMC is the biggest territory for the operator in Maharashtra & Goa circle, where it has the largest base of over 40 million subscribers. Besides the two locations, TurboNet 4G is now available to Vodafone... Read More
Vodafone Idea is trying to clear off the cash crunch situation as the telco giant is facing a heavy financial burden. The telco giant will likely pay Rs 3,000 crore towards spectrum dues which will eliminate the stress of bank guarantees invoked by DoT. Also, the clearance of spectrum dues will show the telcos commitments towards clearing off their financial liabilities. As per the words of a person who is... Read More
A lot of things are being said about the continuation of Vodafone Idea Limited in the Indian telecom market. Thanks to the whopping Rs 57,000 crore AGR dues, Vodafone Idea is on the brink of closure, but that isn't stopping the telco from launching new offers. In a bid to control the massive subscriber base dip, Vodafone Idea started providing 1.5GB additional data on select prepaid recharges. Vodafone Idea's Rs... Read More
Telecom operators have appealed the government to fix the floor tariffs rate by April 1. Also, telecom operators have asked the government to allow a three-year moratorium which would be followed by 15-year payment schedule for AGR dues along with the abolishment of bank guarantees as significant steps which would help the telecom sector to recover from the massive debt burden. According to the letter which was sent by Director... Read More
DoT officials appealed to India’s two important MNP providers Syniverse Technologies India and MNP Interconnection Telecom Solutions India on how many porting requests the providers can process in a day, as the government is looking for alternate solutions in case if Vodafone Idea fails to pay their AGR dues. As per the sources of ET Telecom, services providers noted that approximately 500,000 customers could be ported out each day in... Read More
Vodafone Idea urged the government to give them a period of 15 years to pay their AGR dues. Also, the telco giant has asked DoT and government officials to provide a tax refund, slack their license fees and spectrum usage charges (SUC) along with the introduction of floor tariffs which would help the stressed telco to ensure their sustainability in the market. Vodafone Idea has to pay a whopping amount... Read More
Vodafone Idea has been surrounded by cash crunch as no relief has been given by the Supreme Court. However, the telco giant might get a big mollification as Oaktree capital is planning to lend 11.5 % stake in Indus tower. However, Vodafone Idea must expect a higher rate of interest around 20%. According to a report by ET Telecom, Oaktree Capital is a financial company located in foreign, which works... Read More
Earlier this weekend, lenders of Vodafone Idea met with Department of Telecommunications (DoT) and stated that invoking bank guarantees will lead to defaults as the telco giant is not in the position to repay dues to the bank. Lenders also requested DoT to come up with a solution which would ensure the operations of the three-player telecom market. According to an official “Lenders have already addressed the government about the... Read More
The Supreme Court on Monday rejected Vodafone Idea’s proposal to pay part of their adjusted gross revenue dues and direct government not to take any coercive action against it. Senior advocate Mukul Rohatgi appearing for Vodafone Idea said they are willing to pay Rs 2,500 crore today and another 1,000 crore by Friday, and the government shouldn’t pursue any forcible action against them. He also urged that the bank guarantees... Read More
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