Vodafone , the British major Telecom company may leave India.Vodafone which is Vodafone – Idea has the highest subscriber base in India.
Vodafone owns 45% of shares in the Vodafone -Idea Venture, Image : India Times
With higher Operating Costs , dwindling subscriber base and unbearing dues has put the company in a difficult situation.There were reports that Vodafone has asked its lenders for a Debt revamp , which Vodafone technically denied.
The Major Cause
The Major cause is said to be of the Supreme Court’s order that upheld the demand for adjusted gross revenue which was against Telecom Operators. The Maximum brunt faced were Vodafone & Airtel as they have to shell out additional 50 ,000 crores combined.
As soon as the news broke out Vodafone’s share plunged by 23%. In a Media Statement , the Company stated it was disappointed by the verdict and that it would consider filing a review, the Company said.