Vodafone Idea Ltd said on Saturday it was assessing how much it would pay the In...
NEW DELHI - Vodafone Idea Ltd said on Saturday it was assessing how much it would pay the Indian government as part of dues owed and said it proposed making a payment in the next few days.
The move threatens the survival of Vodafone Idea, a joint venture between Britain’s Vodafone Group Plc and India’s Idea Cellular, as the unit is saddled with about $3.9 billion in overdue payments. Underscoring its vulnerability, the company said its ability to continue essentially hinged on the Supreme Court granting it permission to discuss issues like timelines for payments with the government.
Some analysts predict that India’s large market will likely have only two telecom players - Airtel and Reliance Jio, which is backed by Asia’s richest man, Mukesh Ambani - if the government does not intervene to provide some relief.
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