Airtel, Voda-Idea optic fibre joint venture on hold

New Delhi: The proposed optic fibre joint venture between Bharti Airtel and Vodafone Idea has possibly been put on the backburner, given the divergent funds requirements of the two telcos.

While Vodafone Idea needs to monetise its fibre network assets quickly to stave off immense financial pressure, Airtel has reduced its debt to manageable levels.

“Under severe financial pressure with huge debt, Vodafone Idea needs to urgently monetise its fibre assets,” a senior telecom executive briefed on the merger talks told ET. Airtel has no such urgency.

Vodafone and Airtel recorded a net loss of Rs 4,873 crore and Rs 2,866 crore, respectively, in the quarter ended June. While Vodafone Idea’s revenue fell sequentially, Airtel’s grew.