Vodafone may leave India due to losses - Reports!

There is a buzz in telecom circles that Vodafone may leave India due to mounting losses, reports The News Minute.

Reportedly, an email questionnaire was sent by IANS to Vodafone-Idea in India. But Vodafone did not respond to it.

Vodafone loses subscribers every month and it is hurting their fresh fund raising.

"There has been reportage in some media alleging that Vodafone Idea has approached its lenders for debt recast. We categorically deny and dismiss this as baseless and factually incorrect. We have not made any request for debt recast to any lender or asked for reworking of payment terms. We continue to pay all our debts as and when these fall due," the company said.

Speaking of the AGR verdict, they said, "Vodafone Idea is extremely disappointed by the Hon'ble Supreme Court judgment on the Adjusted Gross Revenue (AGR) case."

"Clearly this judgment has significantly damaging implications for India's telecom industry, which is already reeling under huge financial stress and is left with only four operators," they continued.

Telecom in India is facing rather heay set back with a lot of buzz going around with the payment and other things.