UK-based Vodafone Group has cleared dues of around Rs 11,650 crore or about 109 million pound that it raised against shares of Vodafone Idea, according to a regulatory filing.
Vodafone Group had pledged almost the entire stake in VIL to raise the debt.
The pledge was created in favour of HSBC Corporate Trustee Company (UK) for the debt raised by Mauritius and India-based entities of Vodafone Group.
"On 27 December 2024, HSBC Corporate Trustee Company (UK) Limited acting as the security trustee for the lenders has released the pledges pursuant to repayment of the outstanding dues owed to the lenders by the Vodafone Promoter Shareholders.
"Consequently, the indirect encumbrance on 15,720,826,860 equity shares of the target company held by the Vodafone Promoter Shareholders representing 22.56 per cent of the equity share capital of the target company on a fully diluted basis has been released," the filing said.
"Consequently, the indirect encumbrance on 15,720,826,860 equity shares o

Vodafone

The country's private telecom operators face twin challenges on investment recovery in the New Year  customers leaving their network after tariff hikes and satellite players mainly Elon Musk's Starlink eyeing a chunk of their bread and butter data business.
Private operators have invested around Rs 70,000 crore in telecom infrastructure and radiowave assets this year to expand the coverage of next-generation 5G services which is one of the main highlights of 2024 for the sector.
To recover investments and protect margins, private telcos resorted to tariff hikes in mid-year but that move backfired.
Around 2 crore subscribers dropped their connections. Reliance Jio, Bharti Airtel and Vodafone Idea jointly lost 2.6 crore customers due to a 10-26 per cent price hike.
Around 68 customers switched to state-run player BSNL which refrained from price hike. The loss-making PSU still offers generation-old 3G service and is on the path of rolling out 4G network across the country.
Despite ..

telecom

Russian President Vladimir Putin on Saturday apologised to his Azerbaijani counterpart for what he called a tragic incident following the crash of an Azerbaijani airliner in Kazakhstan that killed 38 people.
The plane was flying on Wednesday from Azerbaijan's capital of Baku to Grozny, the regional capital of the Russian republic of Chechnya, when it turned toward Kazakhstan and crashed while making an attempt to land. There were 29 survivors.
In an official statement Saturday, the Kremlin said air defence systems were firing near Grozny on Wednesday due to a Ukrainian drone strike, but stopped short of saying one of these hit the plane.
On Friday, a US official and an Azerbaijani minister made separate statements blaming the crash on an external weapon.

Vladimir Putin, Putin

According to Law 2.12 of the ICC Code of Conduct, any inappropriate physical contact with a player, umpire, or any other individual during an international match is prohibited.

Virat Kohli and Sam Konstas

The AAP launched a scathing attack on the Congress on Thursday, accusing it of colluding with the BJP for the upcoming Delhi Assembly polls to harm the prospects of the Arvind Kejriwal-led party.
Delhi Chief Minister Atishi and Rajya Sabha MP of the Aam Aadmi Party (AAP) Sanjay Singh alleged at a press conference here that the actions of the Congress are damaging the unity of the Indian National Developmental Inclusive Alliance (INDIA).
"We had not said a single word against the Congress during the Haryana election. Yet the Congress seems to be reading out from the BJP's script. Its candidates' list looks as if it was finalised at the BJP office," Singh said.
He accused Congress leaders Ajay Maken and Sandeep Dixit of targeting the AAP, instead of focusing on the Bharatiya Janata Party (BJP).
"Ajay Maken has crossed all limits by calling Arvind Kejriwal anti-national. Despite campaigning for the Congress in past elections, Kejriwal now faces an FIR, while the Congress had never fil

Kejriwal has done nothing to clean Yamuna, says BJP's Gaurav Bhatia

Thanks to the recent policy easing and near-term export strength, the World Bank sees China's gross domestic product growth at 4.9 per cent this year, up from its June forecast of 4.8 per cent

china Flag, China

From the 1991 economic crisis to his critique of demonetisation, former PM Manmohan Singh's legacy is marked by his quiet confidence, intellectual depth, and transformative vision for India

Manmohan Singh

From rate rationalisation to cess management and expanding the GST base, India's evolving tax regime faces critical design and compliance challenges requiring balanced reforms

In his annual letter to employees, he highlighted conglomerate's achievements for the year

Tata, TCS, N Chandrasekharan, Rajesh Gopinath

Mishra added that Shri Ram Janmabhoomi Temple Construction Committee have requested to name the four gates in the south and north after the respected saints of Ayodhya

Ram Mandir, Ram Temple

Charles Dolan, who founded some of the most prominent US media companies including Home Box Office Inc and Cablevision Systems Corp., has died at age 98, according to a news report.
A statement issued Saturday by his family said Dolan died of natural causes, Newsday reported late Saturday.
It is with deep sorrow that we announce the passing of our beloved father and patriarch, Charles Dolan, the visionary founder of HBO and Cablevision, the statement said.
Newsday is owned by Dolan's son, Patrick Dolan, following Cablevision's purchase of Newsday Media Group in 2008, the newspaper reported.
Dolan's legacy in cable broadcasting includes the 1972 launch of Home Box Office, commonly known as HBO, and founding Cablevision in 1973 and the American Movie Classics television station in 1984. He also launched News 12 in New York City, the first 24-hour cable channel for local news in the US, Newsday reported.
Dolan, whose primary home was in Cove Neck Village on Long Island in New York, a

Charles Dolan, HBO founder

Earlir, on Saturday Women volunteers of the Aam Aadmi Party (AAP) gathered outside the residence of BJP leader Parvesh Verma demanding Rs 1100

Aam Aadmi Party

The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

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Ram temple to be ready by June 2025, says construction committee chairman

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Vodafone Group clears about Rs 11,650 cr dues raised against VIL shares

Telcos face twin challenges on tariffs, upcoming satellite services front

Putin apologises to Azerbaijani counterpart for tragic plane crash incident

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