The company too announced new plans which will cost up to 42 per cent more compared to the price that Airtel pre-paid customers pay at present for plans in the "unlimited" category
The company has informed the bourses that its board meeting on December 4 would consider a proposal to raise funds through issues of equity or bonds
The proposal follows the Supreme Court judgment on adjusted gross revenue
Bharti Airtel has placed a bid of around Rs 1,800 crore for the same, according to the sources
The fund raising proposal follows the Supreme Court judgement on adjusted gross revenue
The report will be presented to the committee of creditors (CoC) on Friday to take a final call on the potential best offers
Along with Bharti Airtel, VFSI Holdings Pte Ltd and UV Asset Reconstruction Company Limited have submitted their bids.
Vodafone Idea this month booked a $7 billion quarterly loss, the biggest in Indian corporate history, in large part due to provisions for payments owed
As operators have already announced that they will increase tariffs, Telecom Regulatory Authority of India will wait to see how the entire situation unfolds
The company has a valuation of Rs 2.22 trillion, up from Rs 1.33 trillion a year ago
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The differing opinion of Reliance Jio on the issue would only complicate the matter
In the morning session, shares of the company opened at Rs 444.35 and fell 4.71 per cent to intra-day low of Rs 430. The stock settled 4.34 per cent down at Rs 431.70 on the BSE
ICRA downgraded Bharti Airtel's long-term rating from "AA" to "AA-"on higher than anticipated provision for dues towards license fees on adjusted gross revenues (AGR) and spectrum usage charge.
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Bharti Airtel, Vodafone Idea, and Jio had urged the government to reduce the price, following which the matter went to the regulator for a review.
The company did not disclose the size of the 'acquihire' deal, which typically entails acquisition of people or teams
Bharti Airtel also likely to reconsider its decision and bid
Telcos have reduced their tariffs so much that they earn only Rs 75 per user per month, nationally
We will not interfere in their decision to raise tariffs but if the consumer is affected due to the increase we will intervene, says a senior DoT official