In a month, Vodafone Idea hopes to finalise new long-term agreements with Nokia, Ericsson, Samsung, and Mavenir for the deployment of 5G and the expansion of 4G.
With the money it raised in April through a follow-on public offer (FPO), it has already placed its first orders for 4G equipment. Through the offering, the company raised Rs 18,000 crore, the most of any kind of fundraising in the nation.
After our FPO was successfully closed in April 2024, we have negotiated new contracts with our equipment vendors. As we work towards concluding negotiations for long-term contracts, we are concentrating on high-impact and rapidly executable priorities," CEO Akshaya Moondra stated on August 13 during the Q1 earnings conference call.
According to him, the company is finalising its 5G rollout plan as part of the discussions.
"The plans are decided and we are right now in the process of finalising our discussions with our vendors, so that we can order the equipment and start deliveries in the coming quarter," he stated. The telecom is negotiating long-term contracts with US-based Mavenir, Korea's Samsung, and European telecom equipment suppliers Ericsson and Nokia.
The telecom is in talks with US-based Mavenir, Korea's Samsung, and European telecom equipment suppliers Ericsson and Nokia for the long-term contracts.Although negotiations for long-term contracts are ongoing, the CEO of Vodafone Idea stated that the company has ordered some hardware and software for potential rapid deployment as part of network upgrades.
A day after the company released its results for the third quarter, Vodafone Idea's share price on the National Stock Exchange closed at Rs 15.47, down 3.37 percent from the previous close.
Due to the addition of 4G subscribers, the indebted telecom company reported a consolidated net loss of Rs 6,432 crore.
