Vodafone CEO Says India Venture Is at Risk of Collapse
- Court has ordered Vodafone to pay billions in spectrum fees
- Parent company has written off book value of Indian business
A man speaks on the phone inside a Vodafone India Ltd. store in Mysore.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Vodafone Group Plc’s Indian venture may be headed for liquidation unless the government eases off on demands for mobile spectrum fees, the phone company’s chief executive officer said.
India’s top court ordered Vodafone Idea Ltd. to pay $4 billion of fees linked to past frequency licenses last month. With another airwave auction approaching, Vodafone Idea already has $14 billion in debt and Newbury, England-based Vodafone has pledged not to put any more money into the business.