Skip to content
Search

Latest Stories

Submit Guest Post

Airtel's Mittal says Indian Telecom sector was under stress

Bharti Airtel boss Sunil Bharti Mittal on Wednesday (19) said that the Indian telecom sector has been under stress for the last three-and-a-half years and the government should focus on its sustainability.

He made the statement after meeting top finance ministry officials.


He revealed that the issue of pending dues arising out of the Supreme Court ruling on Adjusted Gross Revenue (AGR) was not discussed during the meeting.

He asserted that the telecom industry is vital to the nation and the digital agenda of the government.

"The only thing government needs to do is to focus on how to ensure the sustainability of the sector," Mittal said.

He clarified that Airtel has already announced its plans to pay the dues that arose from the apex court ruling.

The company has paid Rs 100 billion out of its estimated liability of over Rs 350 billion.

Mittal clarified that the company has now started calculating its liability.

Vodafone Idea Chairman Kumar Mangalam Birla, who had met the telecom secretary on Tuesday (18), also met finance ministry officials.

It was not clear if they met the officials together or separately.

Add EasternEye As Your Trusted Source
preferred source on google news

More For You

Sky ITV deal

ITV is returning cash to shareholders as it reshapes its business following the Sky agreement.

iStock

ITV launches £100m share buyback after £1.6bn Sky deal

  • ITV announced a £100 million share buyback following its £1.6 billion deal with Sky.
  • The company plans to return around £950 million to shareholders.
  • ITVX recorded double-digit growth, helped by strong World Cup advertising demand.

ITV has announced a £100 million share buyback as it begins returning cash to investors following its £1.6 billion agreement to sell its Media and Entertainment business to Sky.

The broadcaster said it expects to return around £950 million to shareholders, excluding any contingent payments, describing the transaction as a milestone that will unlock significant value while allowing it to focus on expanding ITV Studios, its global television production business.

Keep ReadingShow less