Analysts and industry experts said Airtel is “best positioned” to leverage revenue growth from its additional business, which collectively generate nearly a quarter of annual revenue, unlike Idea and Vodafone India which largely depend on their dominant mobile services business that garner over 90% and 84% of overall revenues respectively.
Mistry on Wednesday in a unanimous decision was removed as chairman and director of the telecom company.
“Bring in Kumarmangalam Birla, Anand Mahindra or Rahul Bajaj to resolve this internally, or like former ICICI Bank chairman KV Kamath helped resolve the fight between the Ambani brothers in 2007,” Kirit Shah said.
Vodafone India, the country’s second largest telco, said it will look to hire in areas like technology, business to business (B2B) and digital segments.
In a letter to the shareholders of Tata Steel, Wadia said several allegations levelled against him were false, unsubstantiated and baseless.
Airtel, Idea and now Vodafone have announced free voice calls plans to deter subscribers from switching over to new entrant Reliance Jio.
The shareholders advisory body added that the group has not articulated any new plans or visions for the operating companies than what the Boards under Cyrus Mistry had adopted.
'The fait accompli presented to Mr. Mistry was that he could leave or face a sacking at the Board Meeting scheduled in the next 5 minutes',said the statement.
Fight is to protect the Tata Group from ‘capricious decision-making’ by Ratan Tata: Cyrus Mistry’s office
It added that all allgetaions that Mistry was trying to hurt finances was wrong since his family owns 18% of the interest in Tata Sons.
Not only has the usage of its wallet jumped dramatically, Idea Money is also seeing a surge in money being loaded into the wallet by customers via debit cards and internet banking.
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