Vodafone Idea Rebrands Itself as ‘Vi’ to Make up For Lost Customers Amid Telecom Battle
Two years after its merger, debt-ridden telecom major Vodafone Idea on Monday announced a unified rebranding as ‘Vi’ to overcome the losses faced amid the AGR battle.
With the new branding of Vodafone Idea marks the culmination of the largest telecom integration in the world and aims to bring back its lost customers by focusing on a digital-first environment.
“Vodafone Idea came together as a merged entity two years ago. We have, since then focused on integrating two large networks, our people and processes. And today I am delighted to present Vi, a brand that will bring important meaning to lives of our customers,” said Vodafone Idea Ltd MD & CEO Ravinder Takkar, launching the brand.
The brand integration sets the company on its future journey to offer world-class digital experiences to 1 billion Indians on the strong 4G network, he added.
“Vi’s focus will be to deliver… a superior network experience, better customer service and leading products and services,” said Vodafone Group Chief Executive Officer Nick Read, as quoted by Reuters.
On Friday, Vodafone approved fundraising of about Rs 250 billion while it owes nearly Rs 500 million in AGR dues to the government.
Notably, the Board of Directors of Vodafone Idea Ltd (VIL) met last week to discuss and evaluate proposals for raising funds in one or more tranches through public issue, issue of equity shares or securities among other options.
The announcement came after the Supreme Court’s September 1, verdict on the Adjusted Gross Revenue (AGR) issue, wherein the top court gave a 10-year timeline to the telcos to repay their dues, with an upfront payment of 10 per cent by March 31, 2021.
PostedOn: 07 Sep 2020 Total Views: 809