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Vodafone Idea Ltd ( (IN:IDEA) ) has provided an update.
Vodafone Idea Ltd has executed an amendment agreement with its promoter group, the Vodafone Group shareholders, modifying the existing 2017 Implementation Agreement that was put in place at the time of the merger of erstwhile Vodafone India and Idea Cellular. The amendment formalises the discharge of the contingent liability adjustment mechanism (CLAM) created under the original merger terms, under which Vodafone Idea had recognised a maximum receivable of Rs 8,369 crore from Vodafone Group Promoters, with a current capped balance of Rs 6,394 crore still recorded as receivable. By clarifying and updating the treatment of this significant contingent liability arrangement with its promoters, the move helps tidy up a key legacy merger construct, offering more transparency around Vodafone Idea’s balance sheet and the financial commitments between the listed entity and the Vodafone Group.
More about Vodafone Idea Ltd
Vodafone Idea Ltd is a major Indian telecommunications operator formed through the merger of Vodafone India and Idea Cellular, providing mobile voice, data and digital services across the country. The company focuses on consumer and enterprise mobility services in the highly competitive Indian telecom market, where it competes with other large players in both prepaid and postpaid segments.
Average Trading Volume: 76,173,840
Technical Sentiment Signal: Buy
Current Market Cap: 1296.9B INR
For detailed information about IDEA stock, go to TipRanks’ Stock Analysis page.