American Tower Corp says Vodafone Idea may miss paying its contractual dues

Kolkata: American Tower Corp (ATC) has in a recent filing to the US Securities and Exchange Commission (SEC) said that Vodafone Idea (Vi), its largest customer in India, may not be able to meet its operating obligations, including making future payments, which could have a material adverse effect on the US tower company’s business and results of operations.

It added that in the quarter ended September 2022, Vi’s shortfall in payments was roughly $48 million (about Rs 391 crore), which has led the Boston-based tower company to defer recognition of revenue on the shortfall sum till payment is received from its loss-making customer.