Vodafone Group Plc, a major British telco was eyeing to sell a 2.4% stake in the Indian tower company, Indus Towers through a block deal. The move was successful and the telco has raised Rs 1443 crore by selling 63.3 million shares at Rs 226.84 a share. Vodafone’s stake in Indus Towers has come down from 28.1% to 25.7%. The investors who purchased the stake were unnamed. According to an... Read More
The Supreme Court has declined the request of Vodafone Group PLC’S India Unit seeking tax refunds of Rs 4,760 crore from the federal government. Vodafone Group appealed to the apex body and stated that the income tax department retained the dues since 2018, which resulted in a massive amount of tax dues. However, the Supreme Court just allowed refund of Rs 733 crore and closed the matter. Vodafone Idea Already Struggling... Read More
Vodafone Idea has been facing a cash crunch situation because of the massive financial debt. The supreme court has already ordered the telco giant to pay the enormous AGR amount of Rs 53,000 crore to DoT before the final hearing which is scheduled on March 17, 2020. However, the telco has clearly stated that they will be forced to shut down operations if no relief is given by the government.... Read More
Vodafone continues to improve prepaid tariff plans. After introducing the Rs 499 plan and revising the Rs 555 recharge, it is now time for the telco to increase the validity of Rs 129 entry-level prepaid plan. Vodafone's Rs 129 plan now comes with 24 days validity, as opposed to the 14 days validity which the plan was launched with. Vodafone puts the Rs 129 plan against Jio's affordable Rs 98... Read More
UK-based Vodafone, in its earnings release, said that the position of Vodafone Idea 'remains critical.' Ever since the AGR setback, Vodafone Idea has been seeking relief from the Indian government, but there is no proper response. As part of the dues, Vodafone Idea will have to furnish Rs 53,000 crore as license fee, interest, spectrum usage charges and penalty dues to DoT. Not only Vodafone Idea, but even Bharti Airtel... Read More
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