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

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

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

Konstas didn't shy away from trying to play the same shot in Bumrah's next over as well and finally hit the ball over keeper for two fours and a six

Sam Konstas

Michael Vaughan said during the commentary that Kohli might be called by the referee. The Englishmen even criticised Kohli for doing so, saying it was not expected from senior cricketer like Kohli

Konstas vs Kohli at MCG

Here are the best of Business Standard's opinion pieces for today

Concerned that aggressive fiscal consolidation could hinder growth momentum while private capital expenditure remains sluggish, the government is expected to set the fiscal deficit target at 4.4 per cent of gross domestic product (GDP) for FY26 in th

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

Artificial intelligence (AI) transitioned from a temporary trend to a widespread reality, gaining traction across industries due to its potential to enhance efficiency, generate revenue and create entirely new roles, yet concerns around its use and impact on jobs remained.
Gone are the days when it was merely a buzzword; AI has now become an integral part of business strategy across various sectors. But its full impact on jobs is little known and so is the issue of intellectual property, data ownership and its privacy implications, and liability - who is liable if an accident or mishap occurs due to the use of AI.
As technology becomes increasingly human-like and pervasive, organisations are now striving to unlock business value through innovative methods to engage customers and employees, enhance operational efficiencies, and generate new revenue streams, Wipro CIO Anup Purohit said.
"We are working towards a future where AI is integrated seamlessly into everyday operations beyond

The number of companies worldwide that are “fully modernised” and follow processes based on artificial intelligence (AI) has increased from 9 per cent in 2023 to 16 per cent this year, according to a survey by Accenture. India’s share tripled from 8

The number of companies worldwide that are “fully modernised” and follow processes based on artificial intelligence (AI) has increased from 9 per cent in 2023 to 16 per cent this year, according to a survey by Accenture. India's share tripled from 8

The IMD noted that the capital's highest-ever single-day December rainfall was recorded on December 3, 1923, at 75.7 mm

Rain, Delhi Rains, Monsoon

The row over the alleged Bihar Public Service Commission (BPSC) question paper leak seemed to be heading for an impasse with protesting students on Saturday rejecting the Patna district administration's offer for talks with authorities in the commission and insisting on an appointment with Chief Minister Nitish Kumar.
In hardening of stance, Patna District Magistrate (DM) Chandrasekhar Singh also said he would not allow the 'Chatra Sansad' (students' congregation), called by Jan Suraaj founder Prashant Kishor on Sunday and warned of action against coaching institute owners who were found to be involved, in any manner, in the protests henceforth.
Kishor on Saturday went to Gardani Bagh where BPSC aspirants have been staging a dharna for the last several days.
Addressing the protesters, Kishor said, "Before coming here, I had a long discussion with people from the education field. I must say that irregularities and paper leaks have now become the norm as far as BPSC exams are concerne

Patna Protest, Patna Students Protest, BPSC Protest

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

Putin apologises to Azerbaijani counterpart for tragic plane crash incident

Telcos face twin challenges on tariffs, upcoming satellite services front

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