Vodafone, Idea settle DoT dues of ₹7,248 crore

S Ronendra SinghRajesh Kurup Updated - December 07, 2021 at 12:39 AM.

The merger between Idea and Vodafone merger moved a step closer with the companies settling all their dues with the Department of Telecom (DoT) on Monday. This includes ₹3,926 crore in cash and ₹3,322 crore in bank guarantees, totalling ₹7,248 crore .

The dues relating to the administrative spectrum have been paid to DoT, sources close to the development told BusinessLine . Both operators had earlier urged the DoT to recalculate the amount due. But the DoT rejected the proposal.

The DoT had given a conditional nod to the merger earlier this month, with a demand of ₹7, 248-crore upfront payment.

The amount due was split between the two companies — ₹3,322 crore from Idea, on account of one-time spectrum charges and bank guarantee, and a cash payment of ₹3,926 crore from Vodafone towards the market price for non-auctioned radio waves.

Once approved, Vodafone Idea Ltd will be the largest telecom company with around 436 million customers, surpassing Bharti Airtel, with around 344 million customers.

Published on July 23, 2018 16:55