Vi seeking to sell fixed broadband business for USD1bn

6 Jul 2021

Cash-strapped Indian telco Vodafone Idea (Vi) is hoping to raise up to USD1 billion from the sale of its fixed line broadband unit, its fibre-optic assets and its data centre business, the Economic Times reports. The debt-laden operator urgently needs funding to ease its cash crunch and meet its upcoming liabilities.

As previously reported by CommsUpdate, last week Vi wrote to the Department of Telecommunications (DoT) to request a moratorium on spectrum payments for a year, citing the financial burden of its dues relating to the long-running dispute over Adjusted Gross Revenue (AGR) and the overall health of the industry. The cellco said it needs an extra year to pay the INR82.92 billion (USD1.11 billion) in spectrum related fees it is scheduled to pay in April 2022.

India, Vi (Vodafone Idea Limited, VIL)