Mon Sep 23 07:11:53 UTC 2024: ## Vodafone Idea Shares Surge 8% on $3.6 Billion Network Equipment Deal
**Mumbai:** Shares of Vodafone Idea soared over 8% in trading on Monday after the company announced a $3.6 billion deal with Nokia, Ericsson, and Samsung for the supply of network equipment over a three-year period. The deal marks the first step in the implementation of the company’s transformative three-year capital expenditure (capex) plan, worth $6.6 billion (₹550 billion).
Vodafone Idea shares rose 8.96% on the Bombay Stock Exchange to close at ₹11.42 per share.
The capex program aims to increase 4G population coverage from 1.03 billion to 1.2 billion, launch 5G in key markets, and expand capacity to meet the growing demand for data. The company will continue to work with its existing long-term partners Nokia and Ericsson while also bringing Samsung on board as a new partner.
Following the recent raising of $2.4 billion in equity and the acquisition of additional spectrum worth $3.5 billion in the June 2024 auction, Vodafone Idea has already executed some winning capex. The company is also working to finalize these long-term contracts. These wins have mainly involved deploying more spectrum on existing sites and launching a few new sites.
The deal with Nokia, Ericsson, and Samsung is expected to further bolster Vodafone Idea’s network infrastructure and support the company’s growth ambitions in the Indian telecom market.
First Piper 