Discussions on with Indus Towers for softer payment terms, says Vi

Vodafone Idea (Vi) is in discussions with Indus Towers Limited for softer payment terms, the telecom company said in a stock exchange notification late Thursday.

This follows Indus Towers’s warning letter to Vi to pay up its accumulated dues or face disconnection from November.

“Indus Towers is one of the large vendors who provide passive infrastructure services to the company. The company has been in discussions with Indus for softer payment terms, which are continuing, but have not been concluded yet,” Vi said in its notification.

Vi’s dues to Indus Towers are said to be over Rs 7,000 crore. Similarly, it reportedly owes over Rs 2,000 crore to American Tower Corporation. Both the companies are piling pressure on Vi to clear its dues.