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Vi Clears 5G Spectrum Instalment

2023-09-19 13:43:00| Source:Commsupdate

Indian cellco Vodafone Idea (Vi) has paid INR17.01 billion (USD204.6 million) towards the second annual instalment for its 5G spectrum, the operator confirmed in a regulatory filing.

Vi had stated last month that it would make use of the 30-day grace period to clear the dues (plus interest) and that one of its promoter companies – the UK’s Vodafone Group and India’s Aditya Birla Group – had committed to pay the dues if the cellco could not raise the funds in time. Vi did not specify in its recent filing on the matter which party had provided the funds.

Potential punitive measures for failing to clear the dues within the 30-day period following the initial deadline of 17 August included the cancellation of Vi’s 5G spectrum allocation and its exclusion from future auctions for up to three years.