Bharti Airtel slips 4% after Icra downgrades firm's long-term rating
Icra downgraded the telecom major’s long-term rating from “AA” to “AA-".
Icra downgrades Bharti Airtel’s long-term rating to “AA-“ from “AA”
The agency said the ratings continue to remain under watch with negative implications.
Easing burden on telecom companies: Govt panel mulls repayment of AGR dues over 20 years
The govt panel is considering a reduction in the total incidence of taxation to help the troubled sector.
SC decision on AGR disastrous for sector: Airtel, Vodafone Idea
Telcos may file a review petition in the court as the decision to define AGR as entire revenue including from non-core activities would give a huge blow to telecom industry. The sector may call upon govt to mitigate burden on already stressed sector
SC judgement on AGR could pave the way for a two-telco market
Analysts say Vodafone Idea's survival could face challenges, paving way for Jio & Airtel to take lead.
Will need government support for timely repayment: Voda Idea to lenders
Voda Idea’s top management has cautioned lenders that timely repayments may not be possible without govt relief
Believe govt is aware of telcos' stress; wants to see 3 pvt, 1 public sector player: Vodafone Idea CEO
In a post-earnings investor call, Vodafone Idea CEO Ravinder Takkar said the company has been engaging "very positively" with the govt and that its discussions on telecom stress began even before the AGR ruling was pronounced by SC. The SC, last month, ruled in favour of the govt and directed telecom cos, including Voda Idea, to pay dues as demanded by the DoT.
Voda Idea looking to sell data centers to raise funds: MD Ravinder Takkar
Takkar's comments came on a Voda Idea earnings call Friday, a day after the beleaguered telco reported an unprecedented net loss of Rs 50,921.9 crore, weighed down by provisions for statutory liabilities following the top court’s recent AGR ruling.
ISPAI seeks legal view on DoT's demand for statutory dues; says order unnecessarily imposed on ISPs
The Internet Service Providers Association of India (ISPAI) said the Department of Telecommunications (DoT) has unnecessarily imposed the order on internet service providers, many of which are run by entrepreneurs in smaller cities and towns.
Voda Idea CEO speaks to staff to calm nerves
Vodafone Idea MD Ravinder Takkar told employees that the company is hoping for relief for the sector.
Airtel raises doubts over its ability to continue as 'going concern'
While the carrier has highlighted the need for significant additional financing - which includes accessing diversified sources across markets and currencies - to pay up the demands that the telecom department may raise, it has said that there can be ‘no assurance’ that the company’s plan will be successful.
Gear vendors panic over Vodafone Idea situation; Huawei, ZTE, Nokia exposure goes up with new wireline contracts
Although Ericsson, Nokia, Huawei and ZTE haven’t officially reached out to VIL seeking their dues, they are closely watching the evolving situation, which may adversely affect their respective India revenue streams, already stressed due to lower spending on network expansion and upgrades this year, executives of vendor companies said.
Care downgrades rating on Vodafone Idea's long-term bank facilities, NCDs
The downgrade is on account of significant erosion in the overall risk profile of the company.
COAI urges govt panel to prioritise AGR issue, suggest relief measures within 60 days
The industry is requesting the government for waiver of interest and penalty amounts, saying that penalties are only pursued where there is a wilful default and malafide intent which is not the case in the current matter.
Airtel pushes back Q2 announcement to November 14 on SC-AGR ruling, seeks DoT relief
The company is approaching the DoT to seek clarity on the total amounts involved and request for their support. SC recently broadened the definition on AGR, which will add significantly to the cost of carriers such as Voda Idea & Airtel.
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