Vodafone Idea would prefer to skip net worth mention, unless mandatory

Mumbai: Vodafone Idea (Vi) has asked the telecom department to clarify if it can be exempted from stating its net worth when applying to bid for 4G spectrum in the upcoming auction.

“Vi has requested the Department of Telecommunications to state whether mentioning the net worth of the telco is mandatory. If not, then it won’t state it,” said an official aware of the development.

According to analysts, loss-making Vi’s net worth is a negative Rs 26,699.8 crore. The telco has never posted a profit since its formation through the merger of Vodafone India and Idea Cellular in August 2018, and has been rapidly losing subscribers to rivals, mainly as it trails Bharti Airtel and Reliance Jio in 4G coverage.