Vodafone has scotched media reports that it was planning to exit India. The British telco called the rumours “malicious” and “baseless” and reiterated its support for the joint venture with Idea.
Earlier, telecom circles were abuzz with speculation that the embattled telecom operator – already battered by mounting losses and subscriber loss – was looking to pack up following a ₹28,309 crore fine related to computation of adjusted gross revenue.
Vodafone-Idea has said it will “engage with the DoT” to consider granting relief. The company also denied reports that it had approached lenders for a debt cast.