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Vodafone Idea got a lifeline to Investment of Amazon,Verizon Over $4 Billion.

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4 years ago

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  • Firms in talks to buy a stake in struggling telco for more than $4 billion.
  • Vodafone Idea says that its board will meet tomorrow to weigh fundraising plans.

Amazon.com Inc. and Verizon Communications, the largest wireless carrier in the US, are set to resume talks to buy a significant stake in struggling Vodafone Idea Ltd for more than $4 billion.

The stake-sale talks were paused because the outcome of a Supreme Court case on staggered payments of government dues was uncertain and could have threatened the survival of Vodafone Idea.

Supreme court to give telcos 10 years to pay a total of Rs 1.4 trillion in dues paves,which open the way for a resumption of the negotiations.Vodafone Idea to pay government dues and invest in upgrading its network,process that was halted for lack of funds.

Of the combined dues of all telcos, Vodafone Idea alone needs to pay around Rs 50,400 crore more to the government in licence fee, spectrum usage charges, interest and penalties.It has already paid Rs 7,854 crore.The company reported a staggering loss of Rs 25,460 crore in the June quarter due to one-time charges, including provisions to cover payments due to the government.

On Tuesday, report say that the company is resuming talks with financial and strategic investors, citing senior company officials.In a late-night filing on Tuesday, Vodafone Idea said that its board will meet on 4 September to consider proposals for fundraising.

While Amazon has a major presence in India, Verizon is present in India through its media and online unit Oath Inc.The US wireless carrier has also partnered with Bharti Airtel Ltd in the past and, most recently,in July, when it launched the BlueJeans video-conferencing service in India to serve business customers.

Earlier this year, reported that Google was in talks to acquire a 5% stake in Vodafone Idea.Google, however, decided to invest $4.5 billion in its rival, Jio Platforms, the digital arm of Reliance Industries Ltd.Technology and telecom analysts have already stated that the Jio-Facebook-Google deals would only increase the pressure on rival telecom companies to forge similar partnerships.

While Vodafone Idea will not compete with Reliance Jio on the range of offerings, it will expand its connected ecosystem theme to include products and services that go beyond telephony, according to the people cited above.

Bharti Airtel Ltd and Vodafone Idea lost 4.7 million subscribers each in May,while Reliance Jio Infocomm Ltd added 3.7 million users,according to Telecom Regulatory Authority of India (Trai) data.Jio Platforms, which includes all of Reliance Industries’ digital assets, has raised Rs 1.18 trillion by selling a 25.24% stake to a clutch of investors, including Facebook Inc, Google, Qualcomm and private equity companies such as General Atlantic, KKR and Vista Equity partners, among others, since April.

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Apple is giving a huge discount on its gadgets: Details inside

Published

2 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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