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UK telecom company Vodafone may close it's business, CEO seeks help from the government

13/11/2019

New Delhi, Nov 13 (HS): UK telecom
company Vodafone may close its business in the coming days. Vodafone CEO Nick
Reid has accused of non-cooperation, questioning the government's policies.
Nick Reid said that the financial burden has increased on us due to
uncooperative regulations and too much tax. 

Meanwhile, the stock price of
Vodafone-Idea has once again reached below 4 rupees.
 



Actually, the government had asked the
telecom companies including Vodafone-Idea to pay the government dues of Rs
92,000 crore. Telecom companies reached the Supreme Court against this decision
of the government, but they got a shock here. 

The apex court ordered the
telecom companies to pay the dues within the stipulated time frame. According
to media reports Bharti Airtel owes Rs 21,682.13 crore while Vodafone Idea
owes Rs 19,822.71 crore for paying license fees to the government. 



Referring to these conditions,
Vodafone CEO Nick Reid said that the government should take some lenient demand
for the dues so that the business of Vodafone Group can continue in India even
further. He said, "We are financially burdened with unhelpful regulations,
more tax and adverse judgment of the Supreme Court over it." 

He further
said that India has been very challenging for us for a long time. Asked if it
was not possible for the company to remain in India without a relief package,
he said, "This is a very serious situation." The government has said
that it is not in favor of creating a monopoly situation.



Hindusthan Samachar/Radha/Pramod  


 
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