Vodafone Idea (Vi) MD downplays impact of Jio Phone Next, Airtel cashback offers
- Vodafone Idea (Vi) expects to conclude its fundraising in the current financial year as well.
- A tariff hike, which is critical for the telecom sector, is expected soon.
- The MD also stated that Jio’s offer is essentially a device financing scheme, with VI already providing its customers wider and better offers.
He further informed that the company will hike its tariff prices in the coming times and will not wait for its rivals to increase rates on their tariff plans. The MD of Vodafone Idea further cautioned that if the base rates for the 5G spectrum auction are not brought down in the coming months, then again there will be delays in the auction as again there will be no takers for all those bands at those prices.
The Department of Telecommunications (DOT) is expected to return Bank Guarantees worth Rs 14,000 crores. The MD further said that DOT will start its calculation soon. These returns are essential for the survival of the telco giant as with the impending 5G spectrum auction happening soon, the company will need funds to maintain its books. Recently, telecom minister Ashwini Vaishnaw, said that the 5G auctions are expected to happen somewhere in April-May.
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