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<ul><li>Vodafone-Idea’s shares are up 5% after the company completed its stake sale in Indus Towers for ₹3,760 crore.</li><li>There are also reports that a consortium led by Oaktree Capital has offered around $2 billion of capital to invest in the Vodafone Group’s Indian arm. </li><li>Analysts believe that fresh investments and price hikes to improve average return per users (ARPU) are the only things that can help its survival.</li></ul>Vodafone-Idea has been bleeding subscribers for years and now even its postpaid customers are under threat of being wooed away by <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword>. According to analysts, the only way out for the company is with the fresh infusion of funds — and that’s what the company is doing. Vodafone-Idea shares were up nearly 5% today morning after the telecom player completed the sale of its stake in Indus Towers for ₹3,760.1 crore in cash. There are also <a href="https://www.bloombergquint.com/business/oaktree-varde-said-to-offer-2-billion-funding-to-vodafone-idea">reports</a> that a consortium backed by Oaktree Capital has offered Vodafone’s Indian arm $2 billion — approximately ₹14,800 crore — in funding. <div type="image" title="Copy of sbi share price (1)" msid="79316655" hostid="261" caption="&amp;lt;p&amp;gt;Vodafone-Idea share price since September 7 when it was rebranded as Vi!&amp;lt;/p&amp;gt;"></div> Both of these moves tie in with <keyword id="1553175" type="COMPANY" weightage="20" keywordseo="Vodafone-Idea">Vodafone Idea</keyword>’s announcement in September where it revealed its plans to raise ₹25,000 crore by selling its shares and debt. New funds and price hikes are the only way to save Vodafone-Idea As Vodafone Idea continues to lose subscribers, it's also running out of money. This limits the company’s ability to invest in networks and adds to subscribers’ woes who switch over to other telecom operators. “We believe this spiral can be broken only with significant ARPU increase and fund infusion,” said Edelweiss Research in its report dated October 30. According to Axis Capital, Vodafone Idea’s future depends on it. The new mega tower company In the endeavour to raise new funds, Vodafone Idea has sold off around 11.15% of its holding in Indus Towers to make way for a newly merged mega tower company. The Vodafone Group will still hold around 28.12% in the new firm. Meanwhile, <keyword id="6354287" type="UNKNOWN" weightage="20" keywordseo="bharti-airtel">Bharti Airtel</keyword>’s stake reduces from 53.51% in Bharti Infratel to 36.7% in the combined entity. "Merger of Indus Towers Limited &amp; Bharti Infratel Limited has been completed today. The combined entity, to be renamed as Indus Towers Limited, is listed on the National Stock Exchange of India Limited &amp; BSE Limited," said Bharti Airtel in its filing with the Indian exchanges. Oaktree, Varde Partners and others offer $2 billion in funding The Oaktree-led consortium is formed of many companies, including Varde Partners. Sources told <a href="https://www.bloombergquint.com/business/oaktree-varde-said-to-offer-2-billion-funding-to-vodafone-idea">Bloomberg</a> that they have made an offer to infuse between $2 billion to $2.5 billion of capital into Vodafone Idea. But, this is only one of the many offers that the company is currently considering. Vodafone Idea is in talks with several other investors. The company has been reporting losses for nine consecutive quarters. And, since the merger of 2017, Vodafone Idea is yet to come up green in its annual reports. Vodafone Idea is the weakest of three telecom giants in India, the other two being Bharti Airtel and Reliance Jio. And its survival is the only thing that’s standing in the way of the Indian telecom market turning into a duopoly. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-was-supposed-to-launch-today/articleshow/79315462.cms">PUBG Mobile India was rumoured to launch today — but there is no official update from the company</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-infosys-vodafone-idea-apollo-hospitals-emami-route-mobile-syngene-and-others/articleshow/79314343.cms">Top stocks to watch — RIL, Infosys, Vodafone-Idea, Apollo Hospitals, Emami, Route Mobile, Syngene, and others</a> <a href="https://www.businessinsider.in/finance/banks/news/lakshmi-vilas-bank-is-the-fifth-financial-firm-after-ilfs-dhfl-yes-bank-and-pmc-bank-to-collapse-in-india/slidelist/79286096.cms">Lakshmi Vilas Bank is the fifth financial firm to collapse in India within the last 30 months</a>

Vodafone Idea soars nearly 5% on fund infusion from Indus Towers stake sale

New Delhi, Feb 24 () Shares of Vodafone Idea fell nearly 12 per cent on Monday after Bharti Infratel extended the deadline for its merger with Indus Towers by two more months to April 24. The delay in completion of the deal came as a blow to Vodafone Idea as it was eyeing about Rs 5,500 crore from stake sale in Indus Towers. Vodafone Idea holds 11.15 per cent stake in Indus Tower. On the BSE, the stock hit an intra-day low of Rs 3.82, down 13.18 per cent. It settled the day with a loss 11.82 per cent at Rs 3.88. Riding on hopes of selling stake in Indus Tower and paying some amount of pending statutory dues to the government, the shares traded higher in early market hours. However, after the announcement of delay in the merger by two more months, Vodafone Idea shares traded on a lower note for most part of the trading session. The stock gained as much has 13.86 per cent and lost 13.18 per cent during the day on the BSE. Similar trend was seen on NSE, where the scrip after fluctuating between a high of Rs 5.05 and a low of Rs 3.80, finally settled at Rs 3.85, down 12.50 per cent over previous close. More than 67 crore shares of the company were traded on the NSE, while over 10 crore shares were exchanged on BSE. Vodafone Idea has to pay Rs 53,000 crore in statutory dues to the government and so far it has paid only Rs 3,500 crore. RUJRVK

Vodafone Idea shares plunge over 12 pc

In what would become India’s largest telecom merger, <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword> India and Idea Cellular is pushing for individual tower sale at the earliest. The two telecom majors, according to Economic Times news report, have mandated Morgan Stanley and <keyword id="189016" type="CITY" weightage="20" keywordseo="Bank-of-America-Merrill-Lynch">Bank of America-Merrill Lynch</keyword> to finalize buyers for their towers. Vodafone India has 11,000 odd towers in India, while Idea has 9,900 captive towers. The merger will likely be completed by 2018. Once done, Vodafone-Idea would become the biggest telecom company in India, while the current market leader <keyword id="6354287" type="CITY" weightage="20" keywordseo="Bharti-Airtel">Bharti Airtel</keyword> will be pushed back. The ET report also says that Vodafone has asked Morgan Stanley to figure out potential buyers for its 42% stake in <keyword id="6375231" type="COMPANY" weightage="20" keywordseo="Indus-Towers">Indus Towers</keyword>. This tower company is a three-way joint venture between Vodafone, Bharti Infratel and Idea. Earlier Vodafone UK had kept Indus Towers outside the proposed <keyword id="4322447" type="UNKNOWN" weightage="100" keywordseo="vodafone-india-idea">Vodafone India-Idea</keyword> merger.

Vodafone India-Idea merger on fast track: Individual towers to be sold at the earliest

By Prasoon Srivastava New Delhi, Feb 21 () The Department of Telecom (DoT) on Friday approved the merger of the country's largest mobile tower company Indus Towers with Bharti Infratel, according to official sources. The combination 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. The combined entity will be the largest tower company in the world outside China. "DoT has approved merger of Indus Towers with Bharti Infratel," an official source told . Bharti Infratel and Vodafone hold 42 per cent stake each in Indus. Vodafone Idea holds 11.15 per cent stake in the mobile tower firm. As per the plans, the combined company, which would fully own the respective businesses of Bharti Infratel and Indus Towers, would change its name to Indus Towers Ltd and will continue to be listed on Indian stock exchanges. The timely completion of the tower deal is critical for the companies, as it would allow Bharti and Vodafone Idea in offloading stake and raising funds. PRS ABMABM

Govt approves merger of Bharti Infratel, Indus Towers: Sources

New Delhi, Feb 22 () Bharti Infratel on Saturday said its board will meet on February 24 to chart out the future course of action following the telecom department's approval for merger with Indus Towers. The combination 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. The combined entity will be the largest tower company in the world outside China. "...FDI approval for merger of Indus Towers with Bharti Infratel has been received late evening yesterday," Bharti Infratel said in a regulatory filing. It added that the board of directors of the company will meet on February 24, 2020 to "take stock and decide the future course of action". Bharti Infratel and Vodafone hold 42 per cent stake each in Indus. Vodafone Idea holds 11.15 per cent stake in the mobile tower firm. As per the plans, the combined company, which would fully own the respective businesses of Bharti Infratel and Indus Towers, would change its name to Indus Towers Ltd and will continue to be listed on Indian stock exchanges. The timely completion of the tower deal was critical for the companies, since it would allow Bharti and Vodafone Idea in offloading stake and raising funds. The development comes at a time when Vodafone Idea is confronted with total AGR dues of over Rs 53,000 crore. Of this, it has paid only Rs 3,500 crore in two tranches earlier this week. In all, as many as 15 entities owe the government Rs 1.47 lakh crore -- Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges. These dues arose after the Supreme Court, in October last year, upheld the government's position on including revenue from non-core businesses in calculating the annual Adjusted Gross Revenue (AGR) of telecom companies, a share of which is paid as licence and spectrum fee to the exchequer. MBI SR ABMABM

Bharti Infratel board to meet on Feb 24 post DoT's nod for merger with Indus Towers

New Delhi, Nov 15 () Debt-ridden telecom operator Vodafone Idea on Friday said it is exploring to monetise data centres as part of the company's debt reduction plans.
 Apart from data centres, Vodafone Idea (VIL) plans to monetise its 11.15 per cent stake in Indus Towers on completion of the Indus Towers-Bharti Infratel merger, and is also exploring options to monetise nearly 1.6 lakh kilometres of intra-city and inter-city fibre as well as data centres.
 "Separately, we are also exploring opportunity to monetise our data centres. We believe this will provide us financial flexibility," Vodafone Idea MD and CEO Ravinder Takkar said.
 Gross debt on Vodafone Idea as of September 30, 2019 was Rs 1,17,300 crore including deferred spectrum payment obligations of Rs 89,170 crore to the government .
 Vodafone Idea on Thursday reported a consolidated loss of Rs 50,921 crore -- the highest ever loss posted by any Indian corporate -- for the September quarter on account of liability arising out of the Supreme Court's order in the adjusted gross revenue (AGR) case.
 The company has estimated liability of Rs 44,150 crore post the apex court order, and made provisioning of Rs 25,680 crore in the second quarter this fiscal. The company also set aside Rs 4,822 crore for certain assets that it may not be able to use due to shifting of network from 3G to 4G technology.
 Vodafone Idea also derecognised the deferred tax assets amounting to Rs 13,940 crore recorded up to June 30, 2019.
 The Supreme Court, last month, ruled in favour of the government and directed telecom companies, including Vodafone Idea, to pay dues as demanded by the Department of Telecom.
 Vodafone Idea has said its ability to continue business will depend on relief sought from the government and positive outcome of the legal option it has (filing of a review petition).
 It said the company, through the Cellular Operators Association of India (COAI), has made representations to the government to provide relief to the telecom sector.
 This includes request to not press for the AGR liability payment and grant waivers, not levying spectrum usage charges (SUC) on non-licenced revenue, reduction of licence fee and SUC rates and use of GST credit for payment of government levies.
 The industry body has requested the government to allow payment to be made in installments after some moratorium, and grant a moratorium of two years for the payment of spectrum dues beyond April 1, 2020 up to March 31, 2022. PRS MKJ

Vodafone Idea exploring option to monetise data centres to pare debt

<ul><li>Global ratings agency Fitch says that there’s going to be no relief for trouble laden <keyword id="1553175" type="COMPANY" weightage="20" keywordseo="Vodafone-Idea">Vodafone Idea</keyword> and <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword>. </li><li>Airtel, Vodafone and Jio have all hiked their tariffs, which will come into effect from December 1.</li><li>The government has given a two-year relief to Airtel and Vodafone Idea to pay up their AGR dues.</li></ul>After a lot of bad news, the Indian <keyword id="6354776" type="COMPANY" weightage="20" keywordseo="Telecom">telecom</keyword> sector received good news week – like two year moratorium on spectrum payments of ₹92,000 crore; and the top three telecom companies also raised tariffs. While stock markets have been cheering the <a href="https://www.businessinsider.in/business/news/voda-idea-bharti-airtel-shares-zoom-on-rate-hike-move/articleshow/72125884.cms">move</a>, rating agency Fitch is not as easily impressed. “These are unlikely to be sufficient to offset the impact of a recent Supreme Court judgement for incumbents Bharti Airtel and Vodafone Idea,” said the report. The agency gave a negative outlook to the sector due to heightened financial risk associated with the large unpaid AGR-related dues. In October, the Supreme Court held that telecom department’s definition of aggregate gross revenues (AGR) is right and they should pay up for non-telecom revenues as well. Fitch placed a negative rating action on Bharti Airtel, even if the company pays its AGR dues worth ₹41,000 crores. “This is because Bharti's FFO adjusted net leverage will then deteriorate to a level significantly higher than the threshold in FY20, above which we would take negative rating action. We will resolve the rating watch Negative on Bharti's ratings once we have greater clarity on the timing and financial impact of the regulatory dues and any remedial measures,” said the report. The numerous fees that Airtel has to pay has also led to speculation that the telecom giant might have to sell stake in subsidiaries. “Bharti may be able to partly fund the unpaid dues through a planned stake sale of $2.5 billion-3.5 billion in the combined Bharti Infratel (Infratel) and Indus Tower entity, which is awaiting regulatory approval of the merger,” an earlier Fitch report had said. Meanwhile, Airtel and Vodafone Idea are in the process of filing review petition in the Supreme Court on Friday against the AGR judgment of the top court last month, said an IANS report. Recently, Vodafone Idea posted a massive loss of ₹50,921 crore for the second quarter. Meanwhile, the telecom giant also continues to lose subscribers. Its subscriber base went down from 375 million to 372.4 million in September. Airtel too lost users in September, going from 328 million subscribers to 325.5 million.

Tariff hike and government relief not enough for Airtel and Vodafone says rating agency

In a bid to trim debt and concentrate on core operations, Anil Ambani-owned <keyword id="46907" type="CITY" weightage="80" keywordseo="Reliance-communications">Reliance Communications</keyword>, pitched as India’s fourth largest telecom carrier, wants to sell 51% stake in its unit <keyword id="44524" type="CITY" weightage="80" keywordseo="Reliance-Infratel">Reliance Infratel</keyword> at a valuation of Rs 20,000-25,000 crore. 
 
Reliance Infratel is India’s No. 3 tower company with around 45,000 towers and over 120,000 km of intro and inter-circle fibre. The first two positions are taken by Indus Towers and Bharti Infratel. 
 
As per insiders familiar with the matter, Ambani has sought bids from bankers including Morgan Stanley, Bank of America, Merrill Lynch and JM Financial to run the process. 
 
"Taking Bharti Infratel's valuation as a benchmark and putting in all performance and other parameters in place, Reliance Infratel's enterprise value would be at least Rs 20,000-25,000 crore, especially given the fact that the company has the largest fibre network in place," one of the people told Economic Times. 
 
As per data provided by India’s market bellweather BSE, Bharti Infratel, the only listed company in the space, has close to 86,000 towers and was valued at about Rs 74,000 crore as of Tuesday. 
 
Reliance Infratel is 96% owned by RCom and the remainder is owned by small and institutional investors like George Soros' Quantum (M), NSR Partners, Galleon, HSBC Daisy Investment ( Mauritius), Drawbridge Towers, Investment Partners B (Mauritius), which have invested $287 million in 2007. 
"The other deleveraging moves such as monetising real estate and sale of Global Cloud Xchange will continue, but given the condition of the market as well as the improved industry climate, the tower asset sale has been fast-tracked," the person told ET. 
 
Meanwhile, Reliance Communications wants to complete the sale process in 2015 itself, the person said, adding that in case if an outright sale happens, RCom would continue as a tenant in the company with new owners. 
Reliance Communications denied to comment. 
 
Another person familiar with the process told ET that RCom wanted to concentrate on its telecom business, launch 4G LTE services and monetise assets to reduce debt. 
 
Selling off of 51% stake would mean reduction of debt by at least Rs 15,000 crore and potentially by about Rs 20,000 crore on exit, said the person. He added that the company's debt, after paying the Rs 1,100-crore upfront fee following the March spectrum auctions, stands at about Rs 37,000 crore. 
 
Reliance Infratel has a debt of about Rs 8,000-10,000 crore, which is now part of RCom's books. 
 
Reliance Infratel sets up towers on which mobile phone companies install their base stations and equipment. The move to monetise it comes after nearly five years after a proposal for an initial public offering fell through due to stock market conditions, turmoil in the telecom industry, ongoing litigation and the absence of a clear valuation mechanism. Also, at that time, the only tenant on the towers was RCom. 
 
However, quite a lot has changes due to greater polic certainity and more pricing power and surging demand for data. Most leading telecoms 
have announced investments to expand and roll out 3G and 4G networks. As per the financial daily, RCom towers also now have 45,000 external tenancies, 30,000 from Reliance Jio Infocomm and 15,000 from others such as Airtel, Vodafone and Idea Cellular. 
 
(Image: Reuters)

Anil Ambani looks to trim debts, offers 51% stake in Reliance Infratel

<keyword id="13473" type="COUNTRY" weightage="20" keywordseo="North-Korea">North Korea</keyword> has slammed the UN Security Council (UNSC) for labelling the country's space program as threats, calling the agency an "undemocratic organ devoid of impartiality", the media reported on Friday. While addressing a plenary session of the <keyword id="107187" type="ORGANIZATION" weightage="20" keywordseo="UN-General-Assembly">UN General Assembly</keyword> earlier this week, North Korean Ambassador Kim Song stressed on the importance of reforming the UNSC for "better representation" of its member states, Yonhap News Agency reported. "Until now even after 75 years of the founding of the UN, the Security Council does not extricate itself from the stigma of an undemocratic organ devoid of impartiality," Kim said, according to the statement posted on the North Korean foreign ministry's website. The envoy slammed the UN agency for condemning its outer space program as threats to international peace, saying the "practice of double standards and unfairness should no longer be tolerated". "As is well known, illegal armed invasions and air strikes against sovereign states resulting in civilian killings are left unquestioned, whereas the righteous self-defensive measures for safeguarding sovereignty and even the exploration of outer space for peaceful purposes are labelled and condemned as threats to international peace," he said. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/mumbais-massive-power-cut-last-month-may-have-been-the-work-of-hackers/articleshow/79318282.cms">Mumbai’s massive power cut last month may have been the work of hackers</a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-shares-jump-after-selling-stake-in-indus-towers-for-3760-crore/articleshow/79316662.cms">Vodafone Idea soars nearly 5% on fund infusion from Indus Towers stake sale</a> <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-was-supposed-to-launch-today/articleshow/79315462.cms">PUBG Mobile India was rumoured to launch today — but there is no official update from the company</a>

North Korea hits back at the UNSC for calling its space programs threatening

Debt-ridden telecom company <keyword id="1553175" type="General" weightage="100" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword>'s board will meet on Friday to finalise plans for raising funds. Vodafone Idea has informed the Bombay Stock Exchange (<keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword>) that its board will meet on October 21 to consider a proposal to raise funds through the issuance of convertible debentures. "<keyword id="6583012" type="General" weightage="50" keywordseo="vodafone-idea-ltd" source="Orion">Vodafone Idea Ltd</keyword> has informed the BSE that the meeting of the <keyword id="136326" type="General" weightage="50" keywordseo="board-of-directors" source="Orion">Board of Directors</keyword> of the company is scheduled on October 21, to consider and approve a proposal for issuance of debenture securities convertible into equity shares on a preferential or private placement basis to a vendor, subject to regulatory and other statutory approvals as may be required, including shareholders' approval," the company said in a notice to the BSE. Vodafone Idea has been trying to raise funds for a long time but has not succeeded. It may try and raise funds through the issuance of convertible debentures through private placement to a vendor. Vodafone Idea owes an estimated Rs 6,800 crore to mobile tower giant Indus Towers and also Rs 2,400 crore to ATC. Indus Towers is said to have asked Vodafone Idea to clear its outstanding dues and pay every month on time for the continuity of business post-November 2022. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/bajaj-finance-net-profit-zooms-88-yoy-to-2781-crore-asset-quality-sees-improvement/articleshow/94990323.cms">Bajaj Finance net profit zooms 88% YoY to ₹2,781 crore, asset quality sees improvement</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/274-vehicles-are-stolen-every-day-in-india-check-out-which-cities-have-most-thefts/slidelist/94987936.cms">Did you know 274 vehicles are stolen every day? See which cities have most thefts</a>

You Searched For "vodafone indus towers stake sale" and got 10 results

Vodafone Idea soars nearly 5% on fund infusion from Indus Towers stake sale

Prabhjote Gill

Vodafone Idea shares plunge over 12 pc

PTI

Vodafone India-Idea merger on fast track: Individual towers to be sold at the earliest

BI India Bureau

Govt approves merger of Bharti Infratel, Indus Towers: Sources

PTI

Bharti Infratel board to meet on Feb 24 post DoT's nod for merger with Indus Towers

PTI

Vodafone Idea exploring option to monetise data centres to pare debt

PTI

Tariff hike and government relief not enough for Airtel and Vodafone says rating agency

Sanchita Dash

Anil Ambani looks to trim debts, offers 51% stake in Reliance Infratel

BI India Bureau

North Korea hits back at the UNSC for calling its space programs threatening

IANS

Vodafone Idea's board to finalise fund raising plan on Friday

IANS

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