22nd Apr 2020 13:30
(Alliance News) - Vodafone Group PLC on Wednesday said it has accelerated a USD200 million payment to investee Vodafone Idea, offering the Indian firm "liquidity to manage its operations".
The FTSE 100 telecommunications firm said the cash will help Vodafone Idea support its 300 million Indian customers during the Covid-19 pandemic.
Vodafone Idea has been forced to make payments to the Indian government, following a ruling by the country's supreme court.
The verdict said top telecom companies are liable to make licence fee, penalty and interest payments dating back over 14 years.
Vodafone shares were 0.7% higher at 106.62 pence each in London on Wednesday afternoon.
By Eric Cunha; [email protected]
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