Bharti Airtel to gain at cost of Vodafone Idea, say brokerages
The two firms have been lobbying together with the government for relief on payment of the statutory liabilities.
Order on AGR applies to all telecom licensees: Ravi Shankar Prasad
“While most of the licensees of DoT were not direct party to the dispute, the ratio of the judgement will be applicable on all the licensees,” said Ravi Shankar Prasad, answering a question in the Lok Sabha. This implies that companies with even minor telecom businesses may have to pay dues based on their entire revenue with retrospective effect.
AGR impact: S&P keeps Airtel rating on negative watch
Bharti Airtel has hiked tariffs by 15-45 per cent effective December 3, which should temper the impact of the court ruling.
Vodafone Idea will close if govt does not provide any relief: KM Birla
Vodafone Idea Ltd, the India's third largest mobile service provider, will shut down if the government does not provide relief on the liabil...
Vodafone Idea will shut shop if there is no government relief: KM Birla
Birla said the company will have to opt for insolvency route in the absence of relief from govt.
Vodafone Idea tumbles 9% as Birla warns of shutting shop in absence of govt relief
The stock was trading 8.89 per cent lower at Rs 6.66 apiece on the BSE.
Airtel moves SC for government talks on AGR
The Sunil Mittal-led telco filed an application in the apex court earlier this week seeking modification of the court’s order of October 24 to permit Airtel and the government to ascertain the amount to be paid and “a mutually acceptable basis for the discharge of the same” over an agreed period of time.
Supreme Court's AGR ruling will lead to telecom sector's collapse: FICCI to FM
FICCI in a letter to Nirmala Sitharaman seeking her urgent intervention to resolve woes in the telecom sector said the debt-ridden industry has no appetite left to invest in networks and future technologies while businesses across the world are exploring new opportunities around emerging technologies like 5G, AI and internet of things.
AGR woes: Bharti Airtel board to discuss fund raising on December 4
Telecom operator Bharti Airtel would seek approval of its board on December 4 to raise an estimated USD 3 billion (around Rs 21,500 crore), ...
Bharti Airtel plans share issue first, bonds later to raise funds for AGR
The primary aim of private placement before tapping global debt markets; firm also looking at taking advantage of negative rates in Europe. The company is in talks with at least half a dozen foreign banks including BNP, Citibank, HSBC, Standard Chartered, Bank of America and JP Morgan.
Bharti Airtel shares slip on rating concerns
The liabilities in the case of Bharti Airtel add up to nearly Rs 35,586 crore.
Assocham seeks urgent government intervention on wider impact of AGR ruling
The apex court in its order of October 24 had said that all revenue belonging to a telecom licensee — not just revenue from telecom services — should be accounted as gross revenue, for calculating AGR. License holders pay 8% of AGR as license fee to the government.
Private telcos to gain Rs 36,000 cr/month from rate hike, at cost of consumers: Congress
The Congress party has questioned the step-motherly treatment to state-run telcos on giving them 4G. "Why have you delayed the process of permitting them to use 4G for 5 years... Basically what you are doing is - you are ensuring that these companies bleed to death," Congress Committee spokesperson Pawan Khera said.
Reliance Jio may have to bear some of RCom’s AGR dues
Jio's dues will need to pay will include those on RCom’s spectrum that was part of the 2016 trading deal.
Crisis in the telecom sector casts shadow over 5G spectrum auction
Ernst & Young has estimated that it would cost $100 billion or so to launch 5G in India.
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service