rahul1117kumar
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Vodafone India is mulling over a merger with one of the top telecom operators companies in India following intensified competition after the entry of Mukesh Ambani-led Reliance Jio Infocomm Ltd, The Telegraph reported.
The report said that the country's second largest telco is "weighing a potential merger of its Indian arm with rivals as it seeks a turnaround in the subcontinent’s cut-throat mobile market."
“Vodafone is now understood to be looking at the possibility of a tie-up with either Jio, or Idea, another of the top four providers. Jio and Idea could themselves combine, however,” the publication reported.
In September 2016, its parent invested Rs47,700 crore in the company, most of which was used to reduce its debt from Rs81,500 crore in March 2015 to Rs35,430 crore by the end of second quarter of 2016-17. In November, Vodafone’s parent cut the valuation of its Indian unit by €5 billion citing increased competition, which had caused its global loss to double. The telco also delayed its plan to launch an IPO to be listed on stock exchange in India.
Vodafone India had 200 million mobile customers at the end of September 2016. It logged a 2% decline in voice minutes, though data usage increased by 9.8% on a quarterly basis.
Meanwhile, India's leading telco, Bharti Airtel , is also said to be in advanced talks to buy Telenor's India business in a deal that will involve taking on debt of Rs 1,500 crore while allowing India's biggest telecom company to add to its 4G spectrum and be better placed to take on Reliance Jio Infocomm.
Vodafone India: Vodafone seeks merger with one of the top telcos in India: Report, Telecom News, ET Telecom
The report said that the country's second largest telco is "weighing a potential merger of its Indian arm with rivals as it seeks a turnaround in the subcontinent’s cut-throat mobile market."
“Vodafone is now understood to be looking at the possibility of a tie-up with either Jio, or Idea, another of the top four providers. Jio and Idea could themselves combine, however,” the publication reported.
In September 2016, its parent invested Rs47,700 crore in the company, most of which was used to reduce its debt from Rs81,500 crore in March 2015 to Rs35,430 crore by the end of second quarter of 2016-17. In November, Vodafone’s parent cut the valuation of its Indian unit by €5 billion citing increased competition, which had caused its global loss to double. The telco also delayed its plan to launch an IPO to be listed on stock exchange in India.
Vodafone India had 200 million mobile customers at the end of September 2016. It logged a 2% decline in voice minutes, though data usage increased by 9.8% on a quarterly basis.
Meanwhile, India's leading telco, Bharti Airtel , is also said to be in advanced talks to buy Telenor's India business in a deal that will involve taking on debt of Rs 1,500 crore while allowing India's biggest telecom company to add to its 4G spectrum and be better placed to take on Reliance Jio Infocomm.
Vodafone India: Vodafone seeks merger with one of the top telcos in India: Report, Telecom News, ET Telecom
hehe:rofl
