Vodafone warns it may ‘shut shop’ in India over a $4bn charge, the FT has reported. Re-read ugalani's column on how Vodafone is running out of options in India:
Mumbai-listed Vodafone Idea on Oct. 30 denied media reports that it had approached lenders to recast its debt.
The Indian government has set up a panel to suggest ways to alleviate financial pressures on the telecoms sector, Reuters reported on Oct.29 citing a ministry source. India’s Supreme Court on Oct. 24 upheld a demand on telecom operators from the Department of Telecommunications for a spectrum and licence payment of nearly $13 billion, which the ministry said was overdue. Vodafone’s bill is the largest at almost $4 billion, followed by Bharti Airtel and others, including rivals that are no longer in business.
Telecom operators had fought the ministry over the definition of so-called adjusted gross revenue; a metric used to calculate spectrum fees and licence charges paid to the government. Following the judgement, Bharti Airtel postponed the release of its quarterly earnings by more than two weeks to Nov. 14. Vodafone has said it will ask the government to consider granting relief, including by waiving interest and penalties, which make up the bulk of the total bill.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
India police use water cannon to disperse women's rights activistsDemonstrators in India protested against ongoing violence against women and were dispersed by police with water cannon. The activists took to the streets after a 23-year-old rape victim was set on fire while on her way to testify against the men who attacked her.
Leer más »
Singapore strikes its first official blows against fake newsThe Prevention from Online Falsehoods and Manipulation Act gets its first outing
Leer más »
After Stephen Miller's white nationalist beliefs outouted, Latinos ask, 'where's the GOP outrage?'“I would implore my Republican colleagues to join us in calling for Stephen Miller’s resignation,” says a Democratic lawmaker.
Leer más »
After Stephen Miller's white nationalist beliefs outed, Latinos ask, 'where's the GOP outrage?'“I would implore my Republican colleagues to join us in calling for Stephen Miller’s resignation,” says a Democratic lawmaker.
Leer más »
I've Worn Hair Extensions for 14 Years—These Are the Top 8 Brands to Shop for BundlesShop the best online hair extension brands for clip ins, wefted hair, and faux bangs.
Leer más »