The recent numbers show Vodafone Idea continues to witness subscriber churn with a 2 million (month on month) decline in gross subscriber base to reach at 225 million in October while active subscribers base declined by 1.4 million (month on month) to reach 198 million in the same month. It’s 4G subscriber base came down as well 0.8 million (month on month) to 126 million.
In a statement Air India said, Balaji will assume his role at the airline on January 11, and will report to Air India CEO & MD, Campbell Wilson. He will oversee the government affairs, legal, ethics, sustainability, and corporate communications functions at Air India, among others.
It further added that the company will comply with SEBI listing regulations and duly keep the stock exchanges informed of all the price sensitive information.
For the past three years, Vi has been struggling to raise funds needed to pay its large vendors like Indus and the government, expand its 4G coverage and also invest in its pending 5G rollout to compete effectively with bigger rivals Reliance Jio and Bharti Airtel.
Union telecom and IT minister Ashwini Vaishnaw Monday tabled the Telecommunication Bill in Lok Sabha that aims to do away with the three archaic laws – the Indian Telegraph Act, 1885, Wireless Telegraphy Act, 1933, and the Telegraph Wires (Unlawful Possession) Act, 1950.
Communications Minister Ashwini Vaishnaw Monday tabled the Telecommunication Bill in Lok Sabha that aims to do away with the three archaic laws - the Indian Telegraph Act, 1885, Wireless Telegraphy Act, 1933, and the Telegraph Wires (Unlawful Possession) Act, 1950.
According to the officials, Vi continues to be in discussions with the potential investors, including in the US, to raise fresh capital by issuing equity and equity-linked instruments. The telco has said that bank lending will follow soon after the equity fundraising is finalised.
“We would like to reiterate that (we) continue to have a disproportionate focus to build a digital ecosystem with our partners enabling a differentiated experience for Vi users which will help us drive consumer stickiness as well as providing incremental monetization opportunities,” Vodafone Idea chief executive Akshaya Moondra said in the earnings call.
“We have made progress (in fundraising conversations) since the last earnings call. I expect that we will be able to conclude the discussions relating to the equity investor in this quarter, which I had indicated in the last quarter,” Moondra said on the company’s fiscal second-quarter earnings call held on Monday afternoon.
Loss-making Vi has been struggling to raise funds needed to pay vendors and the government, expand its 4G coverage and invest in its pending 5G rollout to compete effectively with bigger rivals Reliance Jio and Bharti Airtel.
Although the government is the largest shareholder in Vi with a 33.1% stake, it does not interfere with the day-to-day affairs of the company. It has granted the company various extensions to make statutory payments as it has been paying interest on the delay. The provisions for imposing penalties have been removed after the telecom reforms.
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