Shares of Vodafone Idea surged 10% following reports of the Union Cabinet approving a waiver on bank guarantees for spectrum acquired before 2022. This move is expected to provide substantial financial relief to telecom operators, including Vodafone Idea, which has been grappling with mounting debt.
The Department of Telecommunications (DoT) proposed the waiver to ease financial stress in the sector, addressing long-standing demands from telecom companies. This decision extends the 2021 reforms, which eliminated bank guarantee requirements for spectrum purchased after 2021, to earlier auctions.
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