Is Vodafone - Idea in critical condition in India?
Reportedly global telecom giant Vodafone’s joint venture in india is at a critical juncture and may soon have to be liquidated, according to the company’s global CEO Nick Read. Meanwhile this comes as the company data-faces a price war as well as a massive fine in india, which has pushed the value of Vodafone’s joint venture in india to zero.
Furthermore Nick read indicated on tuesday that the indian operations may be headed for liquidation unless the indian government provides relief on mobile spectrum fees and cited “unsupportive regulation” and “excessive taxes” as reasons. He stated, “It’s a very critical situation.” Reportedly when asked if it makes sense for vodafone to continue to remain in the country, read said, “The government has stated its desire not to end up with a monopoly.”