Vodafone Idea (VIL), India’s third-largest telecom operator, has approved the allotment of 166 crore equity shares valued at Rs 2,458 crore to Nokia Solutions and Networks India and Ericsson India. This move aims to bolster VIL’s capabilities in rolling out a 5G network and enhancing its 4G services. It marks a strategic step as VIL becomes the first telecom company in India to issue shares for procuring network equipment. The allotment also facilitates the settlement of outstanding dues to these vendors, reinforcing their long-term partnership with VIL amid its growth strategy.
Vodafone Idea Issues Equity Shares Worth Rs 2,458 Crore to Nokia and Ericsson for 5G Network Rollout
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