Will Vodafone idea survive 2021?
Vodafone Idea will survive and be competitive in the market and will invest the cash saved through the 4-year moratorium on AGR and spectrum payments into expanding its network and participating in 5G auctions instead of repaying debt, the company’s managing director Ravinder Takkar said Wednesday.
Vodafone Idea shares have jumped over 50 per cent in one month. Vodafone Idea (VI) shares surged sharply on Thursday to reach its highest value in over 2.5 years. The surge in VI’s stock price is a result of the recent developments aimed at rescuing the struggling telecom service provider.
Will VI shut down?
Indian telco Vodafone Idea (Vi) is reportedly close to “point of collapse” and needs help from the Government, one of its investors said this week. … Last year the Supreme Court of India gave Vi and Airtel 10 years to pay, with the first installments of 10 percent due in March 2021.
Why is idea going down?
Vodafone Idea will come to an “irretrievable point of collapse” without immediate active support from the government as the telecom firm has huge debts and its operations have taken a hit due to the pandemic, said Kumar Mangalam Birla in the letter.
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Is Vodafone buying idea?
On 31 August 2018, Vodafone India merged with Idea Cellular, to form a new entity named Vodafone Idea Limited. Vodafone currently holds a 45.1% stake in the combined entity and Aditya Birla Group holds a 26% stake.
Who is the owner of idea?
Vodafone Idea (Vi) narrowed its net loss by 71 per cent to Rs 7,319 crore in first quarter FY 2022 on a year on year basis on account of lower exceptional expenses. In the same period last year it had posted a net loss of Rs 25,460 crore due to provisioning for adjusted gross revenue dues liability.
Who is going to invest in Vodafone idea?
Vodafone, Aditya Birla Group may invest $400 million into Vodafone Idea. This comes after Vodafone Idea’s board approved a plan to raise Rs 25,000 crore from external investors in September 2021.