The Voda-Idea issue is not a new one as the company is in complete losses and day by day they are experiencing downfall.As already in the month of March 2020 Voda-Idea lost around 6.3 million customers and in the month of may it lost around 4.7 million customers.It is a very dissatifying results for the promoters,investors & even the shareholders of the company.
Now,as there is a ray of hope which is been coming from the two main big companies Amazon & Verizon that they are thinking to invest around or over $4 billion in the company.Voda-Idea’s stake sale has been halted and due to that there was an hearing in the court of which the company was threatened of their survival in the Indian market.As on Tuesday the supreme court gave the decision to telecom companies to pay their dues.Voda-Idea dues are around Rs 1.4 trillion which they need to pay in 10 years,with this decision of the court the company has the ray of light to come back.
For the payment of dues to the government & upgradation of network,the company need to raise funds.It has became the most important factor for the company to raise funds anyhow.Voda-Idea alone needs to pay around Rs 50,400 more to the government for the licence fee,spectrum charges,interest and penalties.The company has already paid around Rs 7854 crores.It has also faced the loss for the June quarter of around Rs 25,460 crores.
It is said that Voda-Idea has not responded to the comment & also both the companies Amazon & Verizon have also not replied to the mails yet.It is reported to be said that there is a board meeting on 4th September to consider such proposals of fundraising which will help the company.Amazon has a wide presence in Indian market as well as Verizon India is present in the form of media and online unit Oath Inc.Earlier this year,Google said that it would take stake in Voda-Idea of around 5% but unfortunately they invested in Jio Telecoms.It is said that Jio-Google-Facebook partnership will put pressure on other telecom company.
So we have to wait and watch if there is ray of light for the Vodafone Idea ltd to get the support of this two companies and raise good amount of money.It is always said that for having a profitable empire you should think from first.Decision making ability should be strong enough.