Vodafone Idea to shut 3G in FY22, fund raising to be closed soon

Mumbai: Vodafone Idea (Vi) plans to fold up its 3G services by FY22 as it bids to move towards becoming 4G-focussed telco in a bid to boost revenue, although it would keep its 2G services running for years given that it has a large segment of basic phone subscribers.

The telco’s senior management, at its quarterly earnings call on Monday, also allayed concerns around delays in its Rs25,000-crore fund raising plans, saying it will close “soon” given the keen interest shown by potential investors. ET has reported a consortium led by Oak Hill Advisors is in advanced talks with the only loss-making telco in India for a $2-billion credit line.