Indian government in plan to take 36% stake in Vodafone Idea

The Indian government could soon take a 35.8% stake in the country’s troubled number three telco Vodafone Idea. The heavily indebted company’s board this week approved a plan initiated by the government to convert interest owned to the state into equity. Under the plan proposed, the government would forego interest on payments due to it […]

Losses continue to mount for Vodafone Idea as telco loses more than 20 million subs

Indian telco Vodafone Idea has recorded its worst quarter for revenue in more than two years. Revenue for the second quarter of the year fell from INR 106.59 billion (€1.22 billion) to INR91.52 billion (€1.05 billion) year-over-year. The operator also lost more than 20 million subscribers during that time, dropping from 279.8 million customers to […]

Verizon and Amazon eyeing US$4 billion stake in Vodafone Idea, claims report

Verizon and Amazon are reportedly eyeing a joint investment of US$4 billion in struggling Indian telco Vodafone Idea. Vodafone Idea, the joint-venture of British telco Vodafone and India’s Aditya Birla Group, is one of the three largest telcos in the country by subscriber count, but owes the Indian government’s Department of Telecom (DoT) INR500 billion […]

Google eyes 5% Vodafone India stake

Google is reportedly eyeing a stake in Vodafone Idea, the indian operations of the British telco.  According to sources cited by the Financial Times, Google has been considering buying a stake of around 5% of the struggling telco which operates as a JV of Vodafone and India’s Aditya Birla Group. However, another source said that […]

Indian courts uphold €12 billion telco demand from government

Indian courts have upheld a demand from the government’s Department of Telecom (DoT) that demands INR920 billion (€11.67 billion) from Bharti Airtel, Reliance Jio and Vodafone Idea. The DoT had demanded the money due to overdue levies and interest – with the adjusted gross revenue (AGR) being the point of contention in the case that […]

No plans to sell stake, says Bharti Airtel

Indian telco Bhari Airtel has said that there was no proposal to sell a stake in the company. The declaration was made in response to a report from local news outlet Business Standard that Japanese investment firm SoftBank was eyeing a stake in the telco. In a statement made to the National Stock Exchange on […]