Vodafone Idea It has continued with its existing long-term partners Nokia and Ericsson and has also brought in Samsung as a new partner, the company said in a regulatory filing on Sept. 22.
The agreement marks the first step toward the launch of the company’s three-year $6.6 billion transformational capital investment plan (₹The capital expenditure programme is aimed at expanding 4G population coverage from 1.03 billion to 1.2 billion, launching 5G in key markets and expanding capacity in line with data growth.
The company said the new equipment will enable energy efficiency gains and therefore lower operating costs. Deliveries under these new long-term contracts will begin in the next quarter. The company’s top priority is to expand 4G coverage to 1.2 billion Indians, it said.
Following the recent capital increase of ₹24,000 crore and acquisition of additional spectrum ₹In the June 2024 auction, the company has also executed some quick capital investments, while simultaneously working on the conclusion of these long-term contracts.
These rapid gains were achieved primarily through the deployment of more spectrum at existing sites and also by deploying some new sites. This translates into a 15% increase in capacity and increased coverage of 1.6 crore population by the end of September 2024.
Vi also announced an unexpected meeting with investors and analysts on September 23.
Vodafone Idea’s top management, including CEO Akshaya Moondra and CFO Murthy GVAS, along with other senior management, will participate in the conference call between 2.30 pm and 3 pm on Monday.
The development comes after the top court dismissed petitions by several telecom operators, including Vodafone Idea and Bharti Airtel, pertaining to recalculation of Adjusted Gross Revenue (AGR) dues.
The ruling had allowed the Department of Telecommunications (DoT) to include all non-telecommunications revenues in AGR calculations.
Vodafone Idea’s current AGR dues stand at over ₹70,300 crore.
Vodafone Idea Ltd. shares closed up 1.35% on Monday. ₹10.52 on Friday. The stock is down 38% so far in 2024.
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