As per report the telecom regulatory world is abuzz with feverish talk that the imperiled telecom operator, Vodafone, is ready to exit its india operations. Meanwhile an email questionnaire was sent by a Vodafone-Idea spokesperson in India. Reportedly in turn was asked to direct the queries to Ben Padovan, Group Head of Corporate Communications, Vodafone Group Plc.
Furthermore Vodafone group did not respond to queries for two days till the time of printing and there is a buzz in telecom circles that Vodafone is ready to "pack up and leave any day now" as operating losses mount in the joint venture company, Vodafone-Idea, loss of lakhs of subscribers every month and a dwindling market capitalization which is hurting any fresh fund raising. Earlier on wednesday, Vodafone-Idea issued a clarification on the claim that Vodafone Idea has approached its lenders for debt recast.
The company said "There has been reportage in some media alleging that Vodafone Idea has approached its lenders for debt recast. We categorically deny and dismiss this as baseless and factually incorrect. We have not made any request for debt recast to any lender or asked for reworking of payment terms. We continue to pay all our debts as and when these fall due". Moreover in a media statement on the AGR verdict, the company said, "Vodafone Idea is extremely disappointed by the Honorable supreme court judgment on the Adjusted Gross Revenue (AGR) case".
