Vodafone Idea Plunges to 52-Week Low
Vodafone Idea in talks with DoT to ease bank guarantees for older spectrum
Vodafone Idea is in talks with the Department of Telecommunications to remove bank guarantee requirements for spectrum acquired before 2022, seeking relief amid ongoing regulatory pressures
Vodafone Idea Plunges to 52-Week Low After DoT Notice Over Spectrum Dues
Vodafone Idea (NS:VODA)'s shares dropped by 6.3%, hitting a 52-week low of INR 9.1 in early trading after the Department of Telecommunications (DoT) issued a notice regarding non-payment of bank guarantees.
Vodafone in negotiations with DoT to remove bank guarantee
The telecom operator also noted that when the DoT makes a final decision, it will make all relevant disclosures as required by law.
Vodafone Idea shares plunge 9%, hit 52-week low amid reports of notice from DoT over non-submission of bank guarantee
Vodafone Idea shares fell over 9% to a 52-week low of ₹8.91 amid reports of the DoT’s notice for non-payment of bank guarantees for past spectrum dues. This is the fifth straight day of losses for the telecom player’s stock.
Vodafone Idea in talks with DoT for removal of bank guarantee norms
The company clarified after several media outlets reported that the DoT issued a notice to the telco to pay bank guarantees
Vodafone Idea in talks with DoT to remove need for bank guarantees
Vodafone Idea is in talks with the Department of Telecommunications to waive bank guarantee requirements for spectrum acquired before 2022. The company needs to submit guarantees worth over Rs 24,700 crore in the upcoming months.
Vodafone Idea in talks with DoT to remove bank guarantee for spectrum acquired before 2022
Vodafone Idea also stated that it continues to engage with the DoT for the removal of bank guarantee requirements for spectrum acquired before 2022.
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