Gopal Vittal, CEO of Bharti Airtel said that a big country like India needs three private companies in the telecom sector.
Gopal Vittal, CEO of Bharti Airtel said that a big country like India needs three private companies in the telecom sector. He expressed hope that the government would take steps to provide relief to the industry facing “severe financial crisis”. This comment comes in the midst of Vodafone Idea’s struggle to survive.
Aditya Birla Group chairman Kumar Mangalam Birla had in June this year offered to hand over the group’s stake in debt-ridden Vodafone Idea Ltd (VIL) to the government or any other entity to ensure to ensure that the company continues to exist.
As a country we need three companies
Airtel CEO said, I think only from a national point of view, an industry structure would be right where the three companies not only survive but grow and of course the government company always exists. Vittal said, I think as a country we need three companies. It is a fairly large country with 1.3 billion people, which can easily accommodate three (private) companies in this market.
On the Supreme Court’s dismissal of applications of telecom companies for recalculation of AGR dues, Vittal said Airtel was disappointed with the decision, but the company has made provision for huge payment and has met its obligations for the first few years. While paying more than Rs 18,000 crore.
Kumar Mangalam Birla resigned
The difficulties of Vodafone Idea, which is facing financial crisis, have increased. Kumar Mangalam Birla has resigned as non-executive chairman and direct. The board of Vodafone Idea has accepted his resignation. Vodafone Idea’s board of directors appointed Himanshu Kapania, non-executive director, as non-executive chairman.
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