Vodafone Idea shares up 9% on $3.6-bn deal with Nokia, Ericsson, Samsung
The deal is the first step towards Vi's three-year capex plan of $6.6 billion and is aimed at expanding Vi's 4G population coverage from 1.03 bn to 1.2 bn
The deal is the first step towards Vi's three-year capex plan of $6.6 billion and is aimed at expanding Vi's 4G population coverage from 1.03 bn to 1.2 bn
Following the Supreme Court’s dismissal, Vodafone-Idea shares plummeted nearly 20% to a 52-week low of ₹10.36 from ₹12.90.
Kumar Mangalam Birla, the chairman of the Aditya Birla Group, picked up an additional 1.86 crore shares in Vi on September 6.
Vi’s recent capital raise, while incrementally positive, is unlikely to be adequate to stop the company’s market share erosion, says Goldman Sachs.
India’s weightage in the MSCI EM Index has surged from around 8% in 2020 to record 20% today, and is expected to touch 22% by year-end, says Nuvama.
This was driven by a modest 3% year-on-year growth in its 4G subscriber base, which increased to 12.67 crore last quarter from 12.29 crore in Q1 FY24.
Vodafone Idea informed about the shareholders’ nod to issue preferential shares to Nokia & Ericsson worth ₹2,458 cr & conversion of ₹160 cr worth optionally converted debentures issued to ATC Telecom.
Bharti Airtel emerged as the biggest bidder by securing 69% of the total MHz on offer, followed by VIL at 21%, and RJio at 10%.
Jio has acquired the right to use spectrum in the 1800 MHz band in Bihar and West Bengal for ₹973.63 crore.
Vi says preferential allotment of 166 cr shares will be done for around ₹2,458 crore to two of its key vendors – Nokia Solutions and Networks India, and Ericsson India