Page 7 - Telcos

DoT to begin test checks, verify telcos' claims of lower AGR dues: Report

The 'test check' will happen for all telcom firms but will start with those claiming they have already made full and final settlement towards their statutory liabilities

Govt should offer one-time settlement to telcos, waive penalties: S C Garg

Former finance secretary Subhash Chandra Garg on Wednesday said the government should offer a one-time settlement scheme to the telecom companies to pay the principal due amount as per the AGR definition and waive the penal interest and penalties. The massive Rs 1.47 lakh crore of adjusted gross revenue (AGR) dues are pushing telecom firms to the brink. In a blog titled 'Rebuilding Telecom Business in India', Garg said the telecom crisis in India is not just limited to AGR-related issues. "Offer a one-time settlement scheme to the telecom companies (both operating and under resolution) to pay the principal due amount as per the AGR definition as contained in the licensing agreements and waive the penal interest and penalties. "Alternatively, appoint a board for Vodafone Idea Ltd by ousting the current board on the lines of action taken in the case of IL&FS and DHFL and secure a moratorium of some time on servicing of loans and government dues," he said. Garg noted that the telecom

Payment of AGR dues to slash fiscal deficit to 3.5% in FY20: SBI economists

According to the revised budget estimates, the government expects a fiscal deficit of 3.8 per cent in 2019-20

Customers may have to pay the price as telecom industry consolidates

Consolidation, after Reliance Jio's entry and the price war, has shrunk the number of players from a peak of 16 to just 4

Top headlines: SC accepts govt's proposal on Unitech, telcos' plea in SC

India's richest 1 per cent hold more than four-times the wealth held by 953 million people who make up for the bottom 70 per cent of the country's population, while the total wealth of all Indian bill

AGR dues: Multiple provident funds had loaned money to crisis-hit Voda Idea

Vodafone Idea is required to pay Rs 53,038 crore to the government as per the Supreme Court order which came in October

Telecom performance in Q2: AGR drops 4.5 % QoQ; Jio reports 6.75% growth

Gross revenue and AGR of telecom service sector for the quarter was Rs 59,992 crore and Rs 37,338 crore, respectively

DoT cracks whip, tells telcos to pay pending Rs 1.47-trn AGR dues soon

Further, self-assessment of dues and payments along with the submission of relevant documents as per a licence finance wing letter of November 13 needs to be expedited, the letter said

Congress says Centre promoting pvt telcos, asks if electoral bonds involved

Congress spokesperson Pawan Khera alleged public sector companies like BSNL and MTNL, which were making profits under the previous UPA 1 and 2 governments, were now running at losses

After biggest quarterly loss, Vodafone Idea seeks AGR relief from govt

The finance ministry won't back down from collecting the amount, which needs to be paid within three months as per the court order

AGR woes: Bharti Airtel, Voda Idea post a combined Rs 74,000-cr loss in Q2

Vodafone Idea and Airtel have made provisions for their liabilities arising from the Supreme Court order in their latest September quarter results

Govt can hold 5G spectrum auction, but older telcos unlikely to bid: COAI

Given the latest AGR judgement from the apex court and the sector's deep crisis, the older operators are unlikely to have the wherewithal to bid for spectrum

DoT checking if SC's AGR definition applies to companies other than telcos

These companies may suddenly be given demand notices running into crores and they may object to DoT's not informing them for so many years about this

Top 10 biz headlines: Moody's cuts India outlook, telecom war, and more

From the tussle between traders and FMCG firms to Qatar Air's interest in buying stake in IndiGo, here are the top 10 business headlines for the day

Will banks accept telcos' demand for more funding? Lenders' meet this week

According to the court order on October 24, the telecom companies have three months to pay spectrum usage charges and licence fees in the way adjusted gross revenue has been calculated by the govt

AGR verdict: Reliance Jio says telcos have sufficient capacity to pay dues

It also slammed the Cellular Operators Association of India for writing ex-parte to the government on the financial distress in the sector

Spectrum cost, dividends drying up cash flows for SE Asian telcos: Moody's

The agency expects these trends to continue through at least 2021, and does not see telecom companies generating enough cash to pay down debt and reduce elevated leverage

DoT seeks relief for BSNL, MTNL once again, but with fewer demands

Dept has apparently sought funds for VRS schemes of the two firms and allotment of 4G spectrum, proposes to raise finances via asset monetisation

Telcos to get Rs 13,000-crore revenue boost for inter-connect user charges

The sector Ebitda would get a boost, feel analysts.

Bharti Airtel plans to raise up to $1 bn via bond issue to reduce debt

Telecom major Bharti Airtel is planning to raise funds up to USD 1 billion (about Rs 7,000 crore) via a bond issue by its subsidiary Network i2i, the proceeds of which will be used to reduce debt. "...offering of USD denominated Guaranteed Subordinated Perpetual Securities by Network i2i Limited (a direct 100 per cent subsidiary of Bharti Airtel) expected to be rated BB by both S&P and Fitch may follow, subject to market conditions," Bharti Airtel said in a regulatory filing. Bharti Airtel has appointed a clutch of bankers including BofA Merrill Lynch, Barclays, BNP Paribas, Citigroup, HSBC, J P Morgan and Standard Chartered Bank as joint bookrunners and joint lead managers to organise a series of fixed income investor meetings and calls across Asia, Europe and the US starting Wednesday, it added. Sources said that the fundraising is likely to be in range of USD 750 million to USD 1 billion, and the final figure will be arrived at based on the market response. The proceeds from ..