Bharti Airtel said on Tuesday it has acquired a 4.7 percent stake in Indus Towers from Euro Pacific Securities Ltd, an affiliate of Vodafone Group. “Further to our intimations dated February 25, 2022, and March 25, 2022, we wish to submit that the Company, along with its wholly-owned subsidiary, Nettle […]
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Vodafone, Airtel may face hefty payouts if Huawei, ZTE deals are cancelled
Vodafone Idea and Bharti Airtel might be forced to pay $600-650 million and $300 million, respectively, to Chinese vendors Huawei and ZTE in dues if they are to cancel their existing equipment contracts with them. Canceling contracts also means that they will be barred from future dealing with these companies. […]
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Bharti Airtel, Vodafone Idea report record losses in Quarter 2
Vodafone Idea Ltd and Bharti Airtel Ltd have posted record losses in the September quarter, ravaged by an unfavourable apex court order that upheld the government’s broader definition of revenue on which it calculates levies on telecom firms. Vodafone Idea’s loss for the September quarter widened to ₹50,922 crore from ₹4,874 crore in the year […]
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Vodafone writes off book value of Indian operation, CEO flags liquidation risk
The price wars in the Indian telecom market have pushed the value of Vodafone’s local joint venture to zero or nil as Vodafone CEO Nick Read indicated that the Indian operation is headed for liquidation unless the Indian government provides relief on mobile spectrum fees. The parent company, Vodafone, has […]