Vodafone Idea denies reports of exiting 6 telecom circles

Telecom operator Vodafone Idea on Saturday categorically denied and dismissed the speculation that the company may exit six telecom circles where it has seen a dip in its revenue.

A recent Bank of America Merril Lynch (BofA-ML) report said it believed Vodafone Idea Ltd (VIL) would exit the six circles in C-Circle where it has been continuously losing revenue market share with share below 20 per cent. The report has identified Himachal Pradesh, Bihar, Odisha, Jammu and Kashmir, North East and Assam from where VIL may exit.

“There has been reportage in some media that Vodafone Idea may exit six circles Himachal Pradesh, Bihar, Odisha, Jammu and Kashmir, North East and Assam. We categorically deny and dismiss this speculation as completely baseless and factually incorrect.