Sunday, 19 November, 2017

Idea, Vodafone India to sell tower business to ATC Telecom Infrastructure

Idea, Vodafone India to sell tower business to ATC Telecom Infrastructure Idea Cellular posts Rs 1107 crore loss in Q2; sells tower arm for Rs 4000 crore
Terence Owen | 13 November, 2017, 10:36

Indian telecom carrier Idea Cellular Ltd posted its fourth straight quarterly loss on Monday, as it struggled with the aggressive pricing structure brought in by an upstart rival.

The combined entity of Vodafone India and Idea Cellular, which are now India's number 2 and 3, respectively, would dislodge Bharti Airtel to counter the bruising price war in the worlds second-largest telecom market. "We expect the addition of these two high quality portfolios [Vodafone India and Idea Cellular] to be highly complementary to our existing assets, and to contribute to long-term growth as India's leading mobile operators accelerate their 4G network deployments", American Tower Corp Chief Executive Officer Jim Taiclet said according to The Hindu. The company said the seasonally weak quarter was marked by high competition, regulatory changes and consolidation in the industry.

Idea said that the broadband data usage (3G+4G) has almost doubled to 413 billion MB in the second quarter from 228.8 billion MB in the first quarter.

The revenue per subscriber fell 6.6 per cent QoQ to Rs 132 from 141 in June quarter.

Tens of Thousands Join Polish White Supremacist March: "Europe Must Be White"
Many were young men, some with their faces covered or with beer bottles in hand, but families and older Poles also participated. He added: "We are proud that so many Poles have chose to take part in a celebration connected to the Independence Day holiday".

Idea and Vodafone are also getting merged with each other, excluding the latter's 42% stake in Indus Towers Ltd, heralding the creation of India's largest telecom company in a $23 billion deal. On consolidated basis, the company reported revenues of Rs 272.40 crore and net worth was Rs 175.80 crore.

Idea's net debt as on September 30, 2017 was Rs 54,100 crore, including a large component of deferred payment obligation for spectrum acquired in auctions.

Vodafone India and Idea Cellular have agreed to sell their tower businesses to ATC Telecom for INR 78.5 billion (USD 1.2 billion). In the event it is completed before the merger of Vodafone and Idea, the former will receive INR 38.5 billion and the latter INR 40.0 billion in proceeds.

Through a BSE filing on Monday, Idea and Vodafone stated the pan-Indian telecom tower business comprising 20,000 towers with c combined tenanct ratio of 1:1.65 will be sold to ATC, formerly known as Viom.

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