The statement comes after several news reports during the weekend stated that US telecom majors -- Verizon, Amazon and Starlink are in the race to acquire the debt-ridden telecom company.
This disruptive move can halt incremental tariff increases for 2G and help Reliance Jio gain share in that segment, say analysts.
Vi’s woes will not end till government realises it is the “beneficial owner” and not the company’s promoter.
Shares of Vodafone Idea plunged 4% to ₹7 apiece on the NSE.
During the month under review, Jio added 10,04,797 mobile subscribers as against 16,58,448 subscribers in January.
KM Birla has returned to the board of Vi as an additional director (non-executive and non-independent) with effect from April 20, 2023.
Ind-Ra expects telecom companies to increase their capex intensity for the next 12 months to deploy 5G services at an accelerated pace.
Vi has issued 1,200 debentures of the face value of ₹10 lakh each to ATC Telecom Infrastructure, while the balance 400 securities will be allotted later.
The company’s consolidated revenue from operations during the quarter under review stood at ₹ 10,552.90 crore as against ₹9,644.80 crore in the same period a year-ago.
The Centre is now the largest shareholder in Vi, with a 33% stake as it agreed to convert its dues worth ₹16,000 crore into equity shares.
