Telenor India Exit, Vodafone Talks to Acquire Indian Operations
While the entire market is taking about Reliance Jio, there are some other key developments happening in the telecom industry. Amid fears of Reliance Jio entry, every telecom operator is facing the heat. The earnings of all the operators are in negative figures. No one is an exception. Bharti Airtel, Vodafone India, and Idea Cellular posted negative revenue.
Amid fears of Reliance Jio entry, Telenor India has decided to exit and wind up CDMA services. It is for this reason, Telenor would not participate in the upcoming spectrum sale. With this development, all the other players would like to benefit. If the reports are to be believed, Vodafone is keen to acquire the business operations of Norwegian telecom company Telenor.
As per the spectrum details, Telenor India is contributing 36 percent Industry’s adjusted gross revenue (AGR) amounting INR 3,400 Crore from its 7 circles namely AP, Assam, Bihar, Gujarat, Maharashtra, UP (east) and UP (west). This means, 3,400 Crore is ready to be shared by the incumbent players - Airtel, Vodafone, and Idea.