NEW DELHI: Vodafone Idea Ltd said it was assessing how much it would pay the Indian government as part of dues owed and said it proposed making a payment in the next few days.
India ordered mobile carriers to immediately pay billions of dollars in dues after the Supreme Court threatened the companies and officials with contempt proceedings for failing to implement an earlier ruling.
The move threatens the survival of Vodafone Idea, a joint venture between Britain’s Vodafone Group Plc and India’s Idea Cellular, as the unit is saddled with about $3.9 billion in overdue payments.
“The Company is currently assessing the amount that it will be able to pay to DoT (Department of Telecommunications) towards the dues calculated,” Vodafone said in a statement. “The Company proposes to pay the amount so assessed in the next few days’’. Vodafone did not give details of the amount it was likely to pay. A spokesman declined to provide details on funding for the payment.
Underscoring its vulnerability, the company said its ability to continue essentially hinged on the Supreme Court granting it permission to discuss issues like timelines for payments with the government. — Reuters
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