DoT is seeking legal opinion on the Vodafone-Idea Cellular merger in respect to Vodafone's administratively allocated spectrum holdings, according to industry sources.
DoT will seek a bank guarantee of around Rs 2,100 crore for clearing Idea Cellular's planned merger with Vodafone India, a government source said.
Telecom stocks, led by Idea Cellular came under selling pressure today, falling up to 5.3 per cent, amid concerns over increasing tariff war.
Vodafone India and Idea Cellular have announced appointment of nine executives each from their teams as circle heads for the merged entity, which is proposed to operate as Vodafone Idea Limited.
The Department of Telecom today cleared sale of standalone mobile towers of Idea Cellular for Rs 4,000 crore to the Indian arm of American Tower Corporation (ATC), according to official sources.
Some estimates peg the number of job losses in the sector, which has been passing through choppy waters after the launch of the aggressive offerings by the deep-pocketed Reliance Jio, at over 90,000.
Vodafone India today posted operating profit of Rs 9,805 crore for the financial year 2017-18, ended March 31.
Jefferies said the sharp discount launched by Jio would make incumbents respond to it which may further cut average revenue per user for Bharti and Idea.
Shares of Indian telecom services providers fell sharply after Reliance Jio Infocomm unveiled a new post-paid plan as it takes on bigger rivals such as Airtel and Idea.
Telecom regulator Trai issued a draft to amend interconnect regulations, proposing certain changes in terms and conditions for operators to seek fresh call connect ports from other telcos.
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