AGR dues: Vodafone Idea accepts four-year spectrum payment moratorium, shares rise

Vodafone Idea has informed the government that it will accept the four-year spectrum payment moratorium, becoming the first telco to accept the deferred payment option provided under the telecom relief package.

The cash-strapped telco has also enquired with Department of Telecommunications (DoT) by when will it get back its bank guarantees related to spectrum payments. It added that it will confirm at a later date, its decision on whether it would opt for the moratorium on adjusted gross revenue (AGR) payment and the option to convert interest on deferred payments into equity. The telco has till October 29 to confirm on the AGR payment moratorium.