Mon Sep 23 12:11:33 UTC 2024: ## Vodafone Idea Shares Soar on 5G Rollout Plan, $3.6 Billion Equipment Deal
**New Delhi:** Shares of financially struggling telecom giant Vodafone Idea surged on Monday after the company announced plans to expand its 4G network and roll out 5G services within the next three years. The company signed a whopping $3.6 billion (Rs 30,000 crore) deal with major suppliers like Nokia, Ericsson, and Samsung for essential telecom equipment, fueling the stock rally.
Vodafone Idea’s shares opened the day with a 12% jump, before slightly correcting due to profit-booking. The stock was trading at Rs 11.35, up by 8.40% by 10:00 AM.
This latest deal marks the first step in Vodafone Idea’s three-year capital expenditure (capex) plan, totaling $6.6 billion. The company aims to expand its 4G coverage to 1.2 billion people from the current 1.03 billion, launch its 5G network, and expand capacity to meet growing data demands. Equipment deliveries under the long-term deal will begin in the upcoming quarter.
This news comes as a welcome respite for Vodafone Idea, which has been grappling with financial challenges and a mounting debt burden. The company’s recent decision to invest in its network infrastructure and embrace 5G technology indicates a renewed focus on future growth and regaining market share.
First Piper 