The telcos said they were left confused by a recent report which quoted telecom secretary Aruna Sundararajan as saying that telcos have been directed to also accept other modes of identification while issuing new SIMs.
For the fiscal year ended March, Idea spent about Rs7,000 crore in capex, compared with Airtel’s Rs24,000 crore. Jio spent Rs14,000 crore in the January-March quarter alone.
Heerjee will, continue to work with the insolvency resolution professional (IRP) to help the telco, which has filed for bankruptcy protection, sort out its interim funding, said people in the know.
Company said that it has reduced the midpoint of its full year 2018 outlook for property revenue, net income, and adjusted EBITDA by $60 million, $45 million and $35 million respectively.
In a bid to speed up the asset sale, RCom’s lenders recently also agreed to pay the Rs 774 crore that the telco owes the department of telecommunications (DoT).
The mega tower company merger will also give more financial flexibility to Vodafone and a greater liquidity option as it will be free to sell its stake in the market.
The controversy pertains to Airtel’s IPL campaign, which suggested subscribers could live-stream cricket matches for free.
Lenders agreed to pay Rs 774 crore of deferred spectrum charges for RCom to prevent further litigation in the Anil Ambani-owned company’s debt takeover by Reliance Jio.
Xiaomi founder Lei Jun said that the company expects to disrupt India’s TV industry the way Reliance Jio disrupted the telecom space.
Aircel chief executive Kaizad Heerjee was absent from the meeting. Sources said he was overseas trying to arrange interim funding. Malaysia’s Maxis owns Aircel.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon