Vodafone Idea to make significant investments to roll out 5G networks: Kumar Mangalam Birla
IANS -
Vodafone Idea is yet to roll out 5G networks commercially while rivals like Reliance Jio, Bharti Airtel now have 5G coverage across most parts of the country, as per reports.
Vodafone Idea denies being in discussions to be acquired by Verizon, Amazon or Starlink
IANS -
In a regulatory filing, Vodafone Idea denied reports that it is being acquired by these parties and said the reports are incorrect.
Vodafone Idea hits new 52-week high on speculation of equity infusion by new investor
IANS -
Vodafone Idea was up 7.61 per cent at Rs 11.73 at close of trade on BSE. Heavy volumes of the shares were trade with a combined volume of 703 million shares on BSE and NSE.
Vodafone, CK Hutchison approve UK mobile business merger
IANS -
Current Vodafone UK CEO Ahmed Essam will become CEO of the joint business, and 3 UK CEO Darren Purkis will take on the CFO role. Vodafone Group Chief Executive Margherita Della Valle described the merger of Vodafone UK and Three UK as being "great for customers, great for the country and great for competition".
Vodafone to slash 11,000 jobs in 3 years to regain competitiveness
IANS -
Margherita Della Valle, Group Chief Executive, said their performance has not been good enough. "To consistently deliver, Vodafone must change. My priorities are customers, simplicity and growth. We will simplify our organisation, cutting out complexity to regain our competitiveness," she said in a statement as the company posted its FY23 results.
Kumar Mangalam Birla returns as non-executive director in Vodafone Idea
IANS -
"The board of directors of the company has, at its meeting held today, appointed Kumar Mangalam Birla as an additional director (non-executive and non-independent) with effect from April 20, 2023," Vodafone Idea said in a stock exchange filing. Kumar Mangalam Birla is the Chairman of the multinational Aditya Birla Group, which operates in 36 countries across six continents.
Centre asks Vodafone Idea to convert Rs 16,000 dues into equity
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"It is hereby informed that the Ministry of Communications has [directed] the company to convert the NPV of the interest related to deferment of spectrum auction instalments and AGR dues into equity shares to be issued to the government of India," the company said in a filing. The government will take 33 per cent equity in Vodafone Idea after converting all interest related to payments for spectrum and other dues into equity.
Vodafone Idea to lose market share to others in India
IANS -
The crisis faced by the company offers an opportunity for competitors like Bharti Airtel and Reliance Jio to gain market share, the report said .Giving a 'sell' recommendation to the investors CLSA said despite a four-year interest moratorium, Vodafone Idea's financial crisis is deepening, and government conversion to equity
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