HomeStock MarketVodafone Idea sell fibre assets, eyes up to raise Rs 12,000 crore

Vodafone Idea sell fibre assets, eyes up to raise Rs 12,000 crore

Published on

spot_img
Fortune India: Business News, Strategy, Finance and Corporate Insight
  1. Cash-strapped Vodafone Idea (Vi) is in advanced negotiations with private equity companies to monetise its fibre assets and In-Building Solution (IBS) to raise ₹10,000-12,000 crore
  2. India’s only loss-making private telco had tried to sell its fibre assets and data centre business in 2019, but the deal could not be concluded due to differences over valuation.
  3. The company has over 160,000 km of optic fibre and, since wired broadband is set to be a big revenue stream, Vi is hopeful of closing the deal at a good valuation
  4. The joint venture between UK’s Vodafone Group Plc and India’s Aditya Birla Group (ABG) has been battling cash flow issues, hindering capital expenditure and vendor payments. Hence, the company has been unable to seal 5G network equipment supply deals with vendors
  5. The company’s cash and cash equivalents declined to Rs 119.6 crore at the end of September from Rs 250 crore at the end of June.
SourceMint

Latest articles

Paytm users may take up to 6 months to shift to other service providers

Paytm is looking to migrate all existing customers to another payment service provider (PSP)...

Amazon Prepping Up For Budget-Friendly, Unbranded Fashion Route To Take On Meesho

Amazon has launched a new store called Bazaar on its platform, allowing sellers to...

Aakash Education post Rs 330 crore profit in FY23

Aakash Education, owned by BYJU’S, recorded a profit of INR 330 crore in FY23,...

AI Model Backed by Mukesh Ambani to Launch in March

A consortium backed by Mukesh Ambani’s Reliance Industries Ltd. and India’s top engineering schools...

More like this

Paytm users may take up to 6 months to shift to other service providers

Paytm is looking to migrate all existing customers to another payment service provider (PSP)...

Amazon Prepping Up For Budget-Friendly, Unbranded Fashion Route To Take On Meesho

Amazon has launched a new store called Bazaar on its platform, allowing sellers to...

Aakash Education post Rs 330 crore profit in FY23

Aakash Education, owned by BYJU’S, recorded a profit of INR 330 crore in FY23,...