Quick Answer: Is Vodafone Going Out Of Business?

Why is Vodafone idea in loss?

Vodafone Idea, the country’s third largest telecom operator, on Wednesday reported a staggering net loss of Rs 73,878 crore in the financial year ended March 31, on account of provisions for the Supreme Court mandated statutory dues.

That marked the highest ever net loss reported by an Indian firm..

What is the future of Vodafone?

Despite an AGR burden of Rs 53,000 crore, there are reasons for Vodafone Idea to look forward to a better future. The telco has reportedly written a letter to the government asking for adjustment of Rs 8,000 crore of Goods and Services Tax (GST) refund towards AGR dues.

Will Vodafone idea survive?

In November 2019, Vodafone Idea reported a decline of 36 million in its subscriber base. Its strategy places immense faith that a majority of subscribers will continue to “hang on and hope” that the company survives. As the churn in recent months shows, this cannot be taken for granted.

Is Vodafone going to shut down in India?

While, it seems there is no imminent plan by Vodafone to leave India, not everything is right with its business. … The report hints that the company may shut down its India operations unless the Indian government gives some relaxation to the company on demands for mobile spectrum fees.

What went wrong with Vodafone idea merger?

The company lost 14 million subscribers in the June quarter, taking the losses in the past year to about 115 million users. The month of June ended with Vodafone-Idea having just 320 million users. However, the merger failed to solve both the company’s existing issues.

Is Airtel going to close down?

NEW DELHI: Telecom major Bharti Airtel on Friday said that it expects to shut down its entire 3G network across the country by March 2020, the process for which has already started with Kolkata service area. … Data usage by Bharti’s subscribers has now reached over 11 GB/month.

Is Vodafone in financial trouble?

Investment bank thinks Vodafone could be in trouble. RBC Capital Markets has released an investor note warning Vodafone might be in a spot of bother following years of restructuring, M&A, as well as the risk associated with up-coming spectrum auctions.

Is Vodafone company closing down?

Is Vodafone or Idea closing down? No. Vodafone and Idea are joining forces to become Vodafone Idea Limited- India’s Largest Telecom Company! If you’re a Vodafone or an Idea customer, we remain committed to providing you with the best experience every day, and your services will continue as normal.

What will happen if Vodafone shuts down?

If Vodafone Idea chooses to go the bankruptcy path and shuts down operations, the impact on Indian economy will be multifold. The magnitude of debt default, job losses and customer woes will have huge repercussions in the banking and telecom sectors.

Should I port from Vodafone to Airtel?

Make sure that you are clear with your billing cycle and apply for a Vodafone to Airtel port around the end of the current billing cycle. Make sure you pay some extra money to cover the excess usage charges before your Vodafone connection is successfully ported to Airtel.

Who will take over Vodafone idea?

However, the merged entity continues using both the Idea and Vodafone brand. Currently, the Vodafone Group holds a 45.1% stake in the combined entity, the Aditya Birla Group holds 26% and the remaining shares will be held by the public….Vodafone Idea.TypePublicTotal equity₹596,348 million (US$8.4 billion) (2019)18 more rows