Vodafone Idea Says Unable to Pay $3.5 Billion to the Government
- Embattled wireless carrier seeks urgent state intervention
- Indian court has ordered operator to pay $4 billion back-fees
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Vodafone Idea Ltd., the Indian mobile carrier ordered by the nation’s top court to pay $4 billion, told the government that it’s unable to pay the full amount and instead sought urgent state support to survive the crisis.
In a letter, a copy of which was obtained by Bloomberg News, the beleaguered company said in the light of mounting losses, it doesn’t have the “financial strength” to settle the dues. The firm deposited 35 billion rupees ($488 million) with the government recently.