Vodafone-Idea parent makes $200 mn advance payment amid coronavirus crisis

The payment was due in September 2020 under the terms of the contingent liability mechanism with Vodafone Idea

Vodafone Plc on Wednesday announced that it was making an advance payment of $200 million to its India arm -- Vodafone Idea, mainly to tide over any liquidity crisis arising out of the Covid-19 pandemic.

The UK-based group has accelerated a payment of $200 million to Vodafone Idea, which was due in September 2020 under the terms of the contingent liability mechanism with Vodafone Idea.

“Vodafone Group has accelerated this payment to provide Vodafone Idea with liquidity to manage its operations, and to support the approximately 300 million Indian citizens who are Vodafone Idea customers, as well as the thousands