Vodafone Idea: Vodafone Idea pays Rs 1,700cr to govt for 2022 spectrum buy

NEW DELHI: Embattled Vodafone Thought has paid Rs 1,700 crore to the federal government as a part of cost in the direction of 5G and different spectrum purchased final 12 months.
The cost made by the corporate, which is dealing with heavy debt and mounting liabilities amidst lack of subscribers, additionally features a small portion of curiosity in the direction of delayed cost. It was purported to pay the quantity final month.
“We now have obtained a cheque for Rs 1,700 crore by Vodafone Thought for spectrum and curiosity liabilities,” an official supply stated.
The beleaguered telco at the moment runs a large gross debt of Rs 2.1 lakh crore whereas nonetheless reeling beneath crippling losses. The federal government holds a close to 33% stake within the firm in lieu of future curiosity payouts, and has been desperately making an attempt to work out a revival, although the 2 key promoters are but to place in contemporary fairness.

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