A rescue plan was crucial for Vodafone Idea, a joint venture between the local unit of Vodafone Group Plc and billionaire Kumar Mangalam Birla, and India’s No. 2 carrier Bharti Airtel Ltd. Both saw their financial health deteriorate after billionaire Mukesh Ambani’s Reliance Jio Infocomm Ltd. sparked a brutal price war in 2016, and quickly clinched market share to become the top player. Many private phone operators exited the market, merged with rivals, or filed for bankruptcy after Jio lured away subscribers with cheap data and free calls.
Vodafone Idea Sees Fund Raising Success After Telecom Relief – BloombergQuint
More from NewsMore posts in News »
- Rural growth moderated in second quarter: HUL CMD Sanjiv Mehta – Moneycontrol.com
- Reliance Retail acquires 52% stake in Ritu Kumar brand – Moneycontrol.com
- Policybazaar IPO gets SEBI nod to raise over ₹6,017 cr – Mint
- Sensex, Nifty end 7-day gaining streak; experts advise caution, suggest defensive bets – The Financial ExpressSensex, Nifty end 7-day gaining streak; experts advise caution, suggest defensive bets – The Financial Express
- HUL Q2 results: Profit rises 9% YoY; declares Rs 15 interim dividend – Business Standard