Vodafone today 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 licence fee resulted in a 1.9 billion euro loss to the group in its first half.<\/p>\n\n\n\n
Chief Executive Nick Read said India, where Vodafone formed a joint venture with Idea Cellular in 2018, had been \u201ca very challenging situation for a long time\u201d, but it remained a sizable market where Vodafone had a 30% share.<\/p>\n\n\n\n
\u201cFinancially, there\u2019s been a heavy burden through unsupportive regulation, excessive taxes and on top of that we got the negative Supreme Court decision,\u201d he said today.<\/p>\n\n\n\n
Vodafone had asked the government for a relief package comprising a two-year moratorium on spectrum payments, lower licence fee and taxes and waiving interest and penalties on the Supreme Court case, which centred on regulatory fees.<\/p>\n\n\n\n
Read said Vodafone was not committing any more equity to India and the country effectively contributed zero value to the company\u2019s share price.<\/p>\n\n\n\n
Vodafone, the world\u2019s second largest mobile operator, reported improving organic revenue growth as it saw signs of improvement in Spain and Italy and as it integrates its German cable acquisition. <\/p>\n","protected":false},"excerpt":{"rendered":"
Vodafone today 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 licence fee resulted in a 1.9 billion euro loss to the group in its first half. Chief Executive Nick Read said India, where Vodafone formed a joint venture […]<\/p>\n","protected":false},"author":1,"featured_media":74328,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-74327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/74327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=74327"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/74327\/revisions"}],"predecessor-version":[{"id":74329,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/74327\/revisions\/74329"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/74328"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=74327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=74327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=74327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}