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Vodafone CEO says India venture is at risk of collapse after AGR ruling

Vodafone CEO says India venture is at risk of collapse after AGR ruling party

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Nirmal Sitharaman | Nirmala Sitharaman

nirmala sitaraman 

nirmala sitaraman

Vodafone Group Plc’s Indian venture may be headed for liquidation unless the government eases off on demands for mobile spectrum fees, the phone company’s chief executive officer said. The Supreme Court ordered Vodafone Idea to pay $4 billion of fees linked to past frequency licences last month.

With another airwave auction approaching, Vodafone Idea already has $14 billion in debt and UK-based Vodafone has pledged not to put any more money into the business. India’s mobile phone industry has been convulsed by a price war since Asia’s richest man, Mukesh ...

First Published: Wed, November 13 2019. 14:25 IST
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