The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
What worked for Airtel was that its data traffic growth was 13 per cent sequentially and its average data usage was even higher than Jio's at 11.9 gigabyte per month per user.
Jio is planning to win over 350 million 2G feature phone users by launching a smartphone at a fraction of the current cost.
Vodafone on Thursday launched a new facility for its postpaid customers across the country enabling them to get a new number when they relocate to different state.
A large team led by Kumar Mangalam Birla has taken charge of the integration process.
The latest telecom war kicked off after some pictures surfaced, showing Airtel banners among agitating farmers. According to the Jio camp, it was a giveaway that farmers were being enticed to port their phone numbers.
Measures reportedly being mulled by the government to ease telecom industry's stress and fundraising may give Vodafone Idea the much-needed breather, but structural issue undermining the sector can be fixed only with "sizable" tariff hike for 4G prepaid customers, according to a note by Edelweiss. It further observed that as Voda Idea's large liabilities are falling due, and given the impending launch of JioPhone Next (whose rollout timeline has now been pushed to before Diwali), "the sooner the government measures as well as tariff hikes are rolled out, the better it is". It is pertinent to mention here that the telecom sector has been keenly watching out for the relief package, which could include redefinition of Adjusted Gross Revenue (AGR) to exclude non-telecom items, cut in levies such as Spectrum Usage Charges and easier terms and conditions for surrendering radiowaves to the government.
This merger, Bhupesh Bhandari believes, will be watched keenly by management gurus the world over.
Debt-ridden Vodafone Idea (VIL) has decided to opt for converting about Rs 16,000 crore interest dues liability payable to the government into equity which will amount to around 35.8 per cent stake in the company, as per a regulatory filing of the telecom firm. If the plan goes through, the government will become the biggest shareholder in the company which is reeling under a debt burden of about Rs 1.95 lakh crore. "...the board of directors, at its meeting held on 10th January 2022, has approved the conversion of the full amount of such interest related to spectrum auction instalments and AGR dues into equity.
Vodafone m-pesa was one of the 11 firms that was given payments bank licence by the Reserve Bank of India in 2015.
To decide whether capital gains on surrender of call options are taxable
Hutch's migration to the Vodafone brand became complete on Wednesday, but the pug that made the mobile company ever so popular with the masses will remain.
Vodafone Idea, the country's third largest telecom operator, on Wednesday reported a staggering Rs 73,878 crore of net loss in fiscal ended March 2020 -- the highest ever by any Indian firm -- after it provisioned for Supreme Court-mandated statutory dues. The firm, which has to pay Rs 51,400 crore dues after the apex court ordered the non-telecom revenues to be included in calculating statutory dues, said the liability has "cast significant doubt on the company's ability to continue as a going concern".
According to reports, Vodafone NZ had offered all its employees, other than call centre and retail staffers, voluntary severance package
Bharti Airtel may end up cumulatively bidding for more spectrum than market leader Reliance Jio in the upcoming auctions. This is owing to its need for spectrum renewal, and a requirement for 900 MHz in a few circles, analysts have said. Despite the muted bidding expected in the upcoming auctions, Airtel may end up making more bids than Jio, they added.
Finance secretary R S Gujral too is believed to have met top Vodafone officials in Mumbai last month.
Launched in March, it triggers re-verification of suspected fraudulent numbers. Failing re-verification, the number will be disconnected.
Promoter shareholders -- Vodafone Group and Aditya Birla Group -- have reiterated to the board that they intend to contribute up to Rs 11,000 crore and up to Rs 7,250 crore, respectively, amounting to a total of Rs 18,250 crore, as part of the Rs 25,000-crore rights issue.
Representatives of the British telecom company on Friday met senior finance ministry officials, in search of an amicable solution.
Kapoor, who joined Vodafone a year back from Cairn India, resigned citing family commitments, Vodafone India said in a statement.
The Finance Ministry has already circulated a draft Cabinet note withdrawing the conciliation offer to Vodafone to resolve the Rs 20,000-crore (Rs 200-billion) tax dispute case.
While Airtel may be pushed to to No 3, Jio will find it mighty difficult to beat the new entity.
While it was technically not possible to block the deal, the tax department could resort to arm-twisting.
Delhi High Court quashes reassessment proceedings by Income Tax department.
The company has added over 1,300 sites across the two states.
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
Vodafone had however sought Rs 4,759.07 crore in tax refund from for AYs - 2014-15, 2015-16, 2016-17 and 2017-18.
In a significant move, Vodafone India on Tuesday said it has reduced data charges by up to 80 per cent in three circles and the new cheaper rates will be rolled out nationally in a phased manner.
Ruias to challenge Vodafone's put option, continue reverse-listing plan.
The country's second largest cellular services provider, Vodafone Essar, on Friday announced reduction in international roaming rates for its postpaid customers traveling to South Africa during the IPL Twenty20 cricket tournament beginning on Saturday.
The telecom operator had earlier sought the extension under Clause 4.1 of the licence agreement.
Firms come out with detailed communiqu for consumers that counter Jio's claims of cheap data
A bench headed by Justice Arun Mishra declined to accept the proposal given by senior advocate Mukul Rohatgi, appearing for Vodafone, after he mentioned the matter. Rohatgi said they are willing to pay Rs 2,500 crore today (Monday) and another Rs 1,000 crore by Friday but no coercive action be taken against the company. He urged the bank guarantee deposited with the government by Vodafone should also not be encashed.
Abdulqawi Ahmed Yusuf of the International Court of Justice is appointed as the 3rd arbitrator in Voda tax row.
Vodafone Idea and Airtel have made provisions for their liabilities arising from the Supreme Court order in their latest September quarter results.
From its lows this month, the stock of Bharti Airtel is up 14 per cent. The gains for the telco have come on the back of expectations that market share consolidation, tariff hike and lower capex should boost margins and profits. While the company is a key player in the Indian market, it also has a leadership position in major markets of Africa.
The landmark Vodafone ruling was delivered last fortnight amid fiercely debated proceedings lasting nine days and putting to test skills of a battery of lawyers assisting Vodafone and the Indian government.
Granted 6-month relief, subject to interim payments and guarantee, on Rs 3,700-cr demand for alleged transfer pricing in FY09.
A landmark tax case between Vodafone of the UK and the Indian government that is set to determine the future climate for mergers and acquisitions in the country began on Monday.
The company added 95 lakh new 4G subscribers taking its total 4G subscriber base to 7.53 crore inching closer to its peer Bharti Airtel which reported 4G customer base of 7.7 crore.
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