Vodafone Idea rings in $3.6 billion gear deal with global vendors

Marking Vi's first-ever tie-up with Samsung, new deal part of $6.6 bn capex plan

Just a day ahead of the hurriedly called Vodafone Idea (Vi) meeting meant to soothe the nerves of investors amid the company’s sliding stock price and a negative narrative around it, the telco announced a $3.6-billion (Rs 30,000 crore) deal with global equipment makers Nokia, Ericsson and Samsung for the supply of network gear over a three-year period.

The mega deal announcement on Sunday may have been a balancing act before the meeting with investors and analysts scheduled for Monday, analysts said. The Vi stock hit a 52-week low last week when the Supreme Court rejected the