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Highlights
- Indian business tycoon, Kumar Mangalam Birla, who is also now the chairman of Vodafone Idea (Vi), has commented something on the telecom operator.
- His comments would come as a relief to the investors, but anyone who is paying attention to the telco's business, will know, that there is still a lot more work to do ahead.
- Birla, took over the as the chairman of Vodafone Idea after the government started providing relief to Vodafone Idea.
Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
Indian business tycoon, Kumar Mangalam Birla, who is also now the chairman of Vodafone Idea (Vi), has commented something on the telecom operator. His comments would come as a relief to the investors, but anyone who is paying attention to the telco’s business, will know, that there is still a lot more work to do ahead. Birla, took over the as the chairman of Vodafone Idea after the government started providing relief to Vodafone Idea. A few years back, he was very much willing to sell his stake in the telco, in fact. So what changed in this time frame that Birla now backs the telco, instead of just writing it off. First let’s see what he said, and then understand why he said that, and why he is back.
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Key Highlights
- Kumar Mangalam Birla says Vodafone Idea's rebuilding journey has started.
- Aditya Birla Group is investing Rs 4,730 crore in Vi.
- Government relief measures helped improve Vi's outlook.
- Vi still faces challenges in adding 4G and 5G subscribers.
- The company is looking to raise additional funds through debt and external financing.
Kumar Mangalam Birla: What did he Say about Vodafone Idea
Birla said that the work for rebuilding has begun inside Vodafone Idea. In fact, the Aditya Birla Group (ABG) is investing Rs 4,730 crore in the telco and this will take the promoter ownership higher in the company. Birla said that Vodafone Idea is a tough company, and that is why it lasted the tough time. Here’s what he exactly said.
“…in my annual reflections, I had said tough times don’t last, tough companies do. Those words resonate more strongly with our company today. Across operations, customer service and network expansion, the company is pursuing its priorities with discipline and with purpose. The benefits of sustained investments in network infrastructure and rollout are now becoming increasingly visible, reflecting a stronger operational performance and improve customer service. The work of rebuilding has begun, your company now looks ahead with confidence,” he said.
