Vodafone Idea likely to get loan after relief from GOI: Report
Last month, Vodafone Idea and Airtel chose to take advantage of the government's AGR dues moratorium, which was announced as part of the telecom relief package.
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Last month, Vodafone Idea and Airtel chose to take advantage of the government's AGR dues moratorium, which was announced as part of the telecom relief package.
This decision is focused on relieving companies associated with the telecom sector such as Vodafone Idea that has to spend thousands of crores in unprovisioned past statutory dues. The approval of this package is being considered as the big bang moment of the current scenario.
Since BSNL has no 4G, a collaboration with Vodafone Idea in a pan-India roaming act will prove to be beneficial for its customers as it will provide the users with a high-speed data network. This pact is regarded to be the first step towards a synergy between a government-owned network and a private operator.
As shown by the Telecom Regulatory Authority of India, Vodafone had over 277.6 million wireless subscribers as of May 31.
The share crash comes in a day after Aditya Birla Group Chairman Kumar Mangalam Birla stepped down as non-executive director and non-executive chairman. The shares have tanked almost 38% in the last three days.
Earlier in the day, shares dropped to a 52-week low of Rs 6.03 per share. With today's fall, the shares of telecom services providers have tanked 26 per cent in two days.
Vodafone-Idea launch "VI" as their new brand.
The company owes a debt of ₹58,254 crores to the Department of Telecommunications
Vodafone Idea on Saturday paid additional Rs. 1000 crore to DoT as a part of AGR dues.
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