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AGR verdict: Vodafone's future in India uncertain amid setback, says CEO

Read said Vodafone was not committing any more equity to India and the country effectively contributed zero value to the company's share price

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Vodafone | Supreme Court | telecom sector

Reuters  |  London 

Vodafone said its future in India could be in doubt unless the government stopped hitting operators with higher taxes and charges, after a court judgment over license fees resulted in a 1.9 billion euro group loss in its first half. Chief Executive Nick Read said India, where Vodafone formed a joint venture with Idea Cellular in 2018, had been "a very challenging situation for a long time", but it remained a sizable market where Vodafone had a 30% share. "Financially there's been a heavy burden through unsupportive regulation, excessive taxes and on top of that ...

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First Published: Tue, November 12 2019. 16:55 IST
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