Mon Sep 23 01:50:47 UTC 2024: ## Vodafone Idea Signs Rs 30,000 Crore Deal for 4G and 5G Network Expansion
**New Delhi, India:** Vodafone Idea, the struggling telecom giant, has secured a major boost in its bid to regain market share. The company has inked a Rs 30,000 crore ($3.8 billion) deal with Nokia, Ericsson, and Samsung for the supply of 4G and 5G network equipment over the next three years.
This deal marks the first step in Vodafone Idea’s ambitious three-year capex plan worth $6.6 billion (Rs 550 billion). The company aims to expand its 4G network coverage from 1.03 billion to 1.2 billion people, launch 5G services in key markets, and increase capacity to meet growing data demands.
“The capex is currently being funded out of the equity raise,” said Vodafone Idea CEO Akshaya Moondra. “For the long-term capex, we are in advanced discussions with our existing and new lenders to secure Rs 25,000 crore of funded and Rs 10,000 crore of non-fund-based facilities.”
Vodafone Idea has been facing intense competition from Bharti Airtel and Reliance Jio, leading to consistent quarterly losses. The company undertook several capital-raising measures earlier this year, including a major share sale to institutional investors and a massive follow-on public offering.
This latest deal is a crucial step for Vodafone Idea as it seeks to improve its financial position and regain competitiveness in the dynamic Indian telecom market. The company’s focus on expanding its 4G network and launching 5G services is expected to bolster its customer base and increase its revenue.
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