After a new lifeline, read Vodafone ideal for a new CEO

Copyright © HT Digital Streams Limit all rights reserved. Companies Vodafone Idea is starting to look for new CEO, as Moondra’s term near Vodafone Idea Ltd closer to a CEO, as Akshaya Moon’s official expires in August this year. Summary VI’s search for a new CEO is coming because the term of Akshaya Moondra ends in August, and the telecommunications operator received a second lifeline after the government agreed to convert extra cost of £ 39,000 into equity. Vodafone Idea Ltd, India’s third largest telecommunications operator to have just received a second lifeline from the government, is searching for a CEO (CEO), as the official of Akshaya Moondraar expires in August this year, according to two senior executives of the telecommunications aware of the development. “The search for the new CEO has begun and the telco can look at CXOs of industries such as consumers and technology (sectors) that have a strong understanding of distribution,” said one of the sector managers on condition of anonymity. Read also | You may soon be able to identify Spam -Bellers’ email questions to VI remained unanswered at the time of the publication. A new CEO will join Vodafone IDEA (VI), as Indian wireless carriers have begun to look beyond 4G and 5G services. Reliance Jio Infocomm Ltd and Bharti Airtel Ltd recently drew a treaty with Elon Musk’s SpaceX to provide Starlink Satellite -Internet services to clients in India. In response to an elucidation sought by exchanges about the reported discussions with Starlink, VI said the company is in ‘exploratory talks with various Satcom providers, including Starlink’. Read also | Vodafone IDEA’s 5G launch comes with a side of the satellite Internet FOMO VI, which was late at the speed of 5G because of its debt burden, was another postponement when the government agreed to convert an additional £ 36,950 crore statutory fees last week, increasing its interest to 49%. The telecommunications operator, born of the merger between Vodafone India and Idea Cellular Ltd, has an 18% command market share, compared to Jio and Airtel’s 40.4% and 33.5% respectively. Read also | Everyone’s lead on Vodafone idea. Is it worth it? For the past two years, VI has losed continuously against competitors amid concerns about the survival and stiff competition. At the end of December 2024, the company’s subscriber base was 199.8 million against Jio’s 482.1 million and Airtel’s 414 million. To strengthen its bastion, the company will have to meet the needs of a younger customer base and even grow its average income per user (ARPU), which was £ 173 from the October-December quarter, according to another operations manager who is aware of the development. Airtel’s ARPU stood at £ 245 and Jio reported £ 203 during the period. Moondra helped Vodafone-Idea merger Moondra, Chief Financial Officer (CFO) at the then idea cellular from June 2008 to August 2018, to play an important role in the stitching of the Vodafone-Idea merger in 2018. Ambani Ambani-Led-Jio-rolled out Airtel and forcing other opponents to follow it. In August 2022, Moondra was raised as VI CEO for three years, which ended in August. During his term of office as CFO and CEO, Moondra, in 2019, undertook an important issue of £ 25,000 to raise funds to reduce the company’s debt and strengthen its balance sheet amid crippled competition and financial challenges arising from the merger. During the period, the government first converted a £ 16,000 crore of Vodafone Idea’s outstanding fees into fairness. In April 2024, VI ​​collected £ 18,000 through India’s largest follow-up public offer. Last week, the company announced the second equity conversion of fees worth £ 36,950 in equity, which increased the government’s stake to 49%. In response to the announcement, the operator’s shares rose 18.9% on Tuesday to close at £ 8.10 per piece. The conversion of debt to equity will provide some cash flow -relief to Vodafone ideal, Jefferies said in a note on Tuesday. It could support the company’s network investments and delay the pace of market share in the direction of Bharti Airtel and Reliance Jio, it states. However, analysts from Ambit Capital said the company would need continuing tariff increases to maintain capital expenditure and make good future spectrum and AUR-linked payments. The largest financial tribe of the operator stems from the adjusted gross income (AGR). In 2019, the Supreme Court ruled that VI and its peers should pay statutory obligations on AGR, which includes non-telomna revenue. There was a large gap between the calculations of the telecommunications and the self-judged fees by telecom operators. For Vodafone idea, the Department of Telecommunications (DOT) calculated total fees at £ 58,000 against the company’s estimate of £ 21,500 crore. In September 2024, the Supreme Court rejected healing petitions submitted by VI and other operators seeking relief in the APEX Court ruling. From December 2024, the total debt of Vodafone Idea was around £ 2.3 trillion, including £ 77,000 Crore Aur liability and £ 1.4 trillion spectrum liability. Jefferies said the conversion of additional obligations worth £ 37,000 crore would reduce the debt of the company by 17%. Catch all the corporate news and updates on live currency. Download the Mint News app to get daily market updates and live business news. More Topics #Telecom #Telecom Sector #Telecom -Services #Vodafone Idea #News Mint Specials