Begin typing your search above and press return to search.
Why did the Vodafone CEO say its future doubt in India?
By: Tupaki Desk | 13 Nov 2019 7:46 AM GMT
British telecom giant Vodafone on Tuesday said its future in India could be in doubt if it is forced to pay thousands of crores in statutory dues following the Supreme Court ruling.
Read said the company's future in India could be in doubt unless the government stopped hitting operators with higher taxes and charges after the Supreme Court asked operators to pay over Rs 92,000 crore in past dues.
CEO Read said India, where Vodafone formed a joint venture with Aditya Birla group's Idea Cellular in 2018, had been "a very challenging situation for a long time", but Vodafone has asked the government for a relief package comprising a two-year moratorium on spectrum payments, lower licence fees and taxes Vodafone Idea still had 30 crore customers or about 30% market share.
Read said the company's future in India could be in doubt unless the government stopped hitting operators with higher taxes and charges after the Supreme Court asked operators to pay over Rs 92,000 crore in past dues.
CEO Read said India, where Vodafone formed a joint venture with Aditya Birla group's Idea Cellular in 2018, had been "a very challenging situation for a long time", but Vodafone has asked the government for a relief package comprising a two-year moratorium on spectrum payments, lower licence fees and taxes Vodafone Idea still had 30 crore customers or about 30% market share.
