Vodafone Idea Limited has issued a clarification in response to a news report titled “Vodafone Idea to MTNL – Why are telecom stocks skyrocketing?” that appeared on a media platform earlier today. The report referenced the Union Cabinet’s approval of a proposal to waive bank guarantees for spectrum acquired in auctions conducted by the Department of Telecommunications (DoT) up to 2022.
Vodafone Idea highlighted its earlier communication to the stock exchanges on 8th October 2024, wherein the company had informed that it made detailed representations to the DoT, requesting the removal of bank guarantee requirements for spectrum purchased before 2022. However, the company stated that it has not received any official communication or confirmation from the DoT or the Government of India on this decision.
Vodafone Idea emphasized that as soon as any decision is communicated by the authorities or announced through an official press release, the company will promptly disclose the same to the exchanges.
