What is future of vodafone idea
Not to mention the cost of huge borrowing the company has for buying spectrum and 4G rollout. If the government even partially agrees to this proposal, it would result in a huge accretion to profits and cash flows. Job Cuts, Outlook. The largest telecom operator in the country Vodafone-Idea is planning to sell the All of this has lead to the forced merger of the two large telecom giants. These dues arose after the Supreme Court, in October last year, upheld the government's position on including revenue from non-core businesses in calculating the annual AGR of telecom companies, a share of which is paid as licence and spectrum fee to the exchequer. Romita Majumdar contributed to this story.
Kumar Manglam Birla. Restaurants, hotels ask state govts to allow them to sell liquor stock. To me, it was one the most shocking news in 9 years of my telecom experience. On the other hand, Finance Minister Nirmala Sitharaman has already said that they are unlikely to offer much help on the matter apart from the deferment of the payments. They were aware of the stress on companies which have been posting losses before the verdict also.
There should not be monopoly in the market of Telecom and so , Vodafone Idea should keep on operating in India…. They have been registering losse MRP - Fair value of the stock. Now the merger process is continuing at both the Organizations, however, there is still final approval pending from the Department of Telecom. Call Me. Integrity refers to the application of honest and fair business practices.
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Integrity: To assess integrity, we look for involvement of the management in scams, frauds, etc. Telecom industry is a very cash starved business in India. The Department of Telecommunications DoT , as per its own submission to the apex court last month seeking relief in payment tenure, had put dues of three companies -- Bharti Airtel, Vodafone Idea and Tata Group -- at Rs 1. This feverish pace of events is not surprising as the company is fighting a desperate battle for survival. Too much time has been wasted since October till now," said a former DoT official, requesting anonymity. Vodafone has advanced infusion of USD million about Rs 1, crore in its Indian joint venture with Aditya Birla Group, that is facing a humongous liability of past statutory dues.
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Vodafone Idea faces uncertain future over AGR woes. What my personal thoughts on Idea Vodafone is that its a pretty nice company. These telecos have lost in mobile internet sector to jio. Earnings remain way below expenses. Notify me via e-mail if anyone answers my comment. Also, the recent letter by the company clearly states they may not be able to continue business in the absence of relief from the government.
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The Minister reportedly assured them of providing relief to the distressed sector. The smart ones will get other jobs anyway. Airtel in its quick response has agreed that they will cough up Rs. Top 50 Superstars Large Caps — Rs. Answered Apr 16, Return to Top. Your session has expired, please login again.
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Vodafone Idea, struggling with mounting losses and debt, owes the most among its peers. Call Me. It may not be a wonder to see IDEA at a level of again soon which was there in year Submit Edit. Rival Bharti Airtel Ltd is in a far stronger position because of its massive fundraising in the past year. It will be a huge catastrophe for s of families that depend on VIL and also for the investors, banks, vendors, and lenders.
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The news has come from reliable sources outside the organization that shared some of the details. Open in App. However, given the dire straits the industry is in, the government is clearly more open to such suggestions now than earlier. But Monopolies are bad and if we have less competition these guys will not have any pressure of delivering a good quality service to the end-user. Vodafone Idea finds itself in this unenviable position after losing a year legal battle in the Supreme Court in October last year against the department of telecommunications DoT over the definition of adjusted gross revenue AGR and regulatory payments linked to it.
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