Vodafone Group Plc may inject Rs 285 crore more into Vodafone Idea

Mumbai: The Vodafone Group will inject Rs 285 crore (35 million euros) more into India telecom joint venture Vodafone Idea by September, as per an arrangement agreed during the 2018 merger of its Indian subsidiary and Idea Cellular.

While announcing the fund infusion, the UK group also raised concerns over Vodafone Idea’s ability to generate cash to settle or refinance its liabilities and guarantees, including those related to its dues to the government based on adjusted gross revenue.

This is in addition to a $200 million payment the Vodafone Group had announced in April under the contingent liability mechanism (CLM). “…the group has assessed a cash outflow of 235 million euros under the agreement to be probable at this time and provided for this amount at 31 March 2020.”