A conflicting verdict in a two-decade legal battle between India's mobile operators and the Indian government has led one of India's oldest telecom operators into trouble. Yes, we are talking about a merged company: Vodafone Idea Limited and Vodafone Idea Shutdown, and AGR Dues.
The share prices of the entity controlled by Vodafone Plc and Kumar Mangalam Birla have halved since the beginning of the year, while its counterpart, Bharti Airtel Ltd, has gained 15%. Vodafone Idea share prices have fallen more than 28% in the current week.
In this post, we find out what led to all this and what awaits the telecom operator.
To counter the onslaught of cheap data rates and free calls offered by Jio, two different operators, Vodafone and Idea Cellular, came together in 2018. When that wasn't enough, the promoters of the merged entity also injected money. However, nothing worked.
Source: Vodafone Idea shutdown
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