Market Chatter: Vodafone Idea May Reach Settlement With India Over Past-Due Fees

MT Newswires Live

Oct 06

Vodafone Group's (VOD) Vodafone Idea venture may reach a settlement with India over its past-due fees of nearly 2 trillion rupees ($22.5 billion) as the government seeks to boost ties with the UK ahead of Prime Minister Keir Starmer's visit this week, Bloomberg reported Monday, citing people familiar with the matter.

The government could potentially waive interest and penalties, followed by a concession on the principal, the report said.

Indian officials are drafting the settlement framework and weighing steps to avoid potential legal challenges from other telecom operators with similar dues, Bloomberg said.

Vodafone Idea and India's Ministry of Telecommunications did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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