With billions of statutory debt the UK based telecom giant addressed its investor concerns amid growing concerns that it may exit the Indian telecom joint venture with Idea.
“Vodafone is aware of the unfounded and baseless rumours circulating in some of the Indian media that we have decided to exit the (India) market. We would like to categorically state that this is not true and is malicious,”said Vodafone Group in a statement.
The statement added that the local administration of Vodafone is actively engaged with Indian finance ministry as they wish to continue the joint venture with Aditya Birla holding Idea telecom. FM Sitharaman had said the nation will soon address the concerns of debt ridden telecom industry after a recent SC ruling giving added privileges to the government on Adjusted Gross Revenue.
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