Vodafone Idea stock has dipped by as much as 10% in the early market session on Tuesday. If you are wondering why this is because of Kumar Mangalam Birla’s willingness to sell his group’s stake in the company. According to a Business Standard report that surfaced yesterday, Kumar Mangalam Birla, Chairman of Aditya Birla Group, wrote a letter to the Union Cabinet Secretary, Rajiv Gauba, on June 7 that his... Read More
Vodafone Group, a leading telecommunications company in Europe and Africa is only offering “practical support” to Vodafone Idea, says Nick Read, chief executive officer at Vodafone Group. Read in the first-quarter earnings call on July 23, 2021, said that Vodafone Idea, the third-largest wireless operator in India, is in a “difficult situation that they are trying to navigate.” However, Read said that the parent Vodafone Group will “not” be “putting... Read More
Vodafone Idea (Vi) and Bharti Airtel are going to go for tariff hikes soon. But neither of the telcos should be too jumpy about it after looking at the Telecom Regulatory Authority of India (TRAI) monthly report for May 2021. Apart from Jio, neither of the telcos added any subscribers. In fact, both Vi and Airtel, who are planning to go for tariff hikes, lost more than 4 million subscribers... Read More
The second major stakeholder of Vodafone Idea, Aditya Birla Group, is not utilising its power to buy shares of Vodafone Idea from the co-promoter, Vodafone Group and increase its 27.66% stake. The option to buy shares of Vodafone Idea is granted under the existing shareholder pact. Aditya Birla Group (ABG) has the power to buy additional shares of Vodafone Idea at Rs 130 per share from Vodafone Group to raise... Read More
Vodafone Idea (Vi) and Bharat Sanchar Nigam Limited (BSNL) are the only two operators in India who offer ‘truly unlimited data’ benefit to the users at night. While most of the users are familiar with what Vi offers to the users in this domain, BSNL’s offer in the same lines is quite new. BSNL had launched the unlimited data at night offer for users to celebrate the occasion of Eid.... Read More
Vodafone Idea is taking all the necessary steps to reduce the AGR liability and eliminate the financial burden. In the latest development, the cash-strapped telco is planning to file a review petition in the Supreme Court to have its AGR dues recalculated and reduced. As reported by ET Telecom, if the review of the Vodafone Idea will be rejected, the telco will still have the option of a curative petition.... Read More
Bharat Sanchar Nigam Limited (BSNL) and Vodafone Idea (Vi) both need to stay in the market to ensure that India doesn’t become a country with a duopoly of Reliance Jio and Bharti Airtel. Pradeep Mehta, Secretary-General of CUTS International told ET Telecom that BSNL should be privatised and Vodafone Idea should be provided temporary relief to ensure the survival of the two struggling telcos. Mehta warned that if this doesn’t... Read More
Vodafone Idea has been facing gloomy days since the AGR dues matter started in the Indian telecom space. Over the period, Vodafone Idea has faced financial distress, funding default, subscribers loss that has weakened the backbone of the entity. It would be too early to say that Vodafone Idea will kneel down and exit from the Indian telecom space. If government jumps in and aid the telco by providing a... Read More
Vodafone Idea (Vi) has come out with new enterprise postpaid plans for its corporate customers. The telco is striving hard to earn not only from the retail customers but also the corporate customers. Looking at the evolving needs of the enterprises, Vi has launched new postpaid plans for its corporate customers with a range of exclusive benefits. The telco has announced a total of four new plans that cost Rs... Read More
The current owners of the Vodafone Idea (Vi) - Vodafone Group Plc and the Aditya Birla Group are ready to transfer control of the company to an interested investor if any. The telco’s initial plan of getting an investor hasn’t been successful yet. Both the promoter groups are currently in talks with potential investors including three US-based funds. The aim is to sell a bundle of the convertible as well... Read More
The verdict by Supreme Court in the AGR dues case has left Vodafone Idea in distress. As the telco giant was hoping to get some relief in the massive AGR dues, the bench rejected the plea of both Vodafone Idea and Bharti Airtel that pointed towards arithmetic errors in the calculation of their AGR dues. The Supreme Court direct the telcos to pay their AGR dues to the government. If... Read More
Vodafone Idea has been under a cash crunch since the last year. The Telecom Regulatory Authority of India (TRAI) reports have consistently been pointing out about the concerning churn rate of the telecom operator, which is just the opposite of the other telecom companies. While Reliance Jio and Bharti Airtel have been adding subscribers in the interim, Vodafone Idea has been losing subscribers except in the month of February this... Read More
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