Airtel to save Rs 40k cr cash thanks to moratorium


NEW DELHI: A day after the government announced a mega bailout for the telecommunications industry, Bharti Airtel chief Sunil Mittal said the company would opt for the four-year moratorium on spectrum and payments AGR, which will help it retain a cash outflow of Rs. 35,000-40,000 crore which would be used for the network and other capital expansion programs.
“The government’s overall cash flow needs to be reinvested in the country and the industry. You have to use it. There will be no dividend from that, ”Mittal said.
Mittal has also launched greater collaboration between various telecommunications companies on the infrastructure front – such as fiber, spectrum and towers – so that a strong network can be built for consumers. He said he would speak to rivals such as Reliance Jio’s Mukesh Ambani, after entering into a dialogue with Vodafone global CEO Nick Read and his partner and Indian industrialist Kumar Mangalam Birla.
“Ambani, in his statement yesterday, said it is time for the industry to come together … and build a connectivity network for India’s digital vision. In response to this statement, I would say, yes, the time has come for all of us, the government operator three plus one, to close ranks and start working together, working as Team India, for the telecom dream and digital, rather than being fierce competitors. All this while we are competitive in the market.


Source link

Previous Contributions Via Equity, Defining Non-Telecom Income: Likely Guidelines in 2 Weeks
Next All eyes on Ramu, the first elephant to wear a radio collar in Odisha - The New Indian Express

No Comment

Leave a reply

Your email address will not be published. Required fields are marked *