Telecom operator Vodafone Idea on December 1 said it will charge 6 paise per minute for every outgoing call made by customers to the network of other operators.
Moneycontrol's Jerome Anthony talks to Corporate Bureau Chief Prince Thomas to find out the top developments in the corporate world.
In a post-earnings investor call, Vodafone Idea CEO Ravinder Takkar said the company has been engaging "very positively" with the government and that its discussions on telecom stress began even before the AGR ruling was pronounced by the Supreme Court.
CEO Nick Read has blamed the media for distorting his remarks
Moneycontrol's Jerome Anthony talks to Corporate Bureau Chief Prince Thomas about what transpired in the sector this week.
The merger of Bharti Infratel and Indus Towers will create a pan-India tower company, with over 163,000 towers, operating across all 22 telecom service areas in India.
High implied volatility makes an Iron Condor trade possible in Idea.
An Iron Condor trade to gain from high volatility in Idea.
The telecom watchdog in October 2016 recommended imposing total penalty of Rs 3,050 crore on Bharti Airtel, Vodafone and Idea for allegedly denying interconnectivity to newcomer Reliance Jio.
The telecom operator wished its competitors on Valentine's Day in 2017 when it complained to TRAI against Airtel, Vodafone and Idea for not providing enough Point of Interconnections.
With most other telecom companies having exited the market, analysts expect Reliance Jio’s market share gains to come at the expense of Vodafone Idea. The new entity trails Reliance Jio and Airtel in network investments.
Telecom Secretary Aruna Sundararajan sought to allay any fears of cartelisation in the market saying it is "unlikely".
Idea, a part of the Aditya Birla conglomerate, and Vodafone signed a merger agreement last year, which could create the country's biggest telecom operator.
The companies together have a market share of 37 percent which amounts 408 million users but Idea has been losing subscribers recently. Idea has lost subscribers in 21 circles, according brokerage house Jefferies.
The fall comes at a time when the telecom industry added more than 59 lakh subscribers in May, according to TRAI data.
DoT has said the numbers are fine and the two telcos should pay the dues to get final approval for their merger
Idea Cellular is expected to pay close to Rs 13,600 crore in the form of payments and bank guarantees
The merged entity will be India's largest telecommunication company.
Idea and Vodafone have decided to combine their operations to create India's largest telecom operator worth over $23 billion, with a 35 percent market share and a subscriber base of around 430 million.
"Total number of people in the RCom group: from peak of approximately 52,000 to current 3,400, a reduction of approximately 94 percent," RCom said in a BSE filing.
The merger plan of telecom operators Vodafone India and Idea Cellular is in the "final stage of approval", Telecom Secretary Aruna Sundararajan said today.
Akshaya Moondra, the current chief financial officer at Idea, will become the finance chief at the combined firm, the companies said separate filings.
According to a senior official, the government is awaiting for closure of Vodafone and Idea mobile tower sale transaction with American Tower Corporation.
Idea Cellular is in the process of merging its telecom business with the Indian unit of British telecom major Vodafone.
Both the groups can go ahead for the final approval for merger from the Department of Telecom after Vodafone's appeal for the scheme also gets NCLT nod.