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DoT to seek Rs 21 billion bank guarantee to clear Vodafone-Idea merger deal

June 18, 2018

The Department of Telecommunications (DoT) is planning to seek a bank guarantee of around Rs 21 billion for clearing the merger of Vodafone India and Idea Cellular.

The Department of Telecommunications (DoT) is planning to seek a bank guarantee of around Rs 21 billion for clearing the merger of Vodafone India and Idea Cellular.

As per industry sources, the guarantee pertains to one time spectrum fee of Idea Cellular, which will be asked to replace the one year bank guarantee of submitted by Vodafone India for deferred spectrum payment. Vodafone India and Idea Cellular will have to give undertaking of clearing dues that are under judicial consideration.

Earlier as per Aruna Sundararajan, Secretary, DoT, the clearances related to the merger of Vodafone India and Idea Cellular were being expedited and that should be finalised by June 2018.

 
 

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