Vodafone Idea shares fall nearly 2% after Indus warning

Kolkata: Vodafone Idea (Vi) shares fell nearly 2% to Rs 8.96 on BSE in early Wednesday trade after an ET report that Indus Towers had asked the loss-making telco to clear its dues or run the risk of losing access to its towers from November.

Vi’s mobile services to its over 255 million customers could be seriously disrupted if Indus blocks tower access to the cash-strapped telco.

The tower company had shot off this warning to Vi in a strongly-worded letter written on Monday, said two people aware of the matter. This followed an Indus Towers board meeting earlier in the day that discussed the company’s mounting trade receivables and noted that it was mainly due to payment delays by Vi.