Mon Sep 23 07:10:47 UTC 2024: ## Vodafone Idea Soars on $3.6 Billion Deal with Nokia, Ericsson, and Samsung
**Mumbai, India -** Shares of Vodafone Idea Ltd. surged by 8% on September 23 after the company signed a major $3.6 billion (approximately ₹30,000 crore) deal with Nokia, Ericsson, and Samsung for the supply of network equipment over the next three years.
The deal marks the first phase of Vodafone Idea’s ambitious three-year capex plan worth $6.6 billion, which aims to expand its 4G coverage from 1.03 billion to 1.2 billion Indians, launch 5G services in key markets, and expand its data capacity.
“We are on our journey of VIL 2.0 and from hereon, VIL will stage a smart turnaround to effectively participate in the industry growth opportunities,” stated Akshaya Moondra, CEO of Vodafone Idea in an exchange filing.
The company has retained its long-time partners, Nokia and Ericsson, while adding Samsung to its network equipment suppliers. Sources have reported that Nokia secured over 50% of the deal volume, while Ericsson won approximately 40% and Samsung the remainder.
Vodafone Idea has highlighted that the vendors’ deep understanding of the Indian market will facilitate a flexible, modular rollout plan tailored for advanced technologies like 4G and 5G. The new equipment is expected to improve energy efficiency and reduce operating costs for the telecom operator. Deliveries are set to begin in the upcoming quarter, with the primary focus on expanding 4G coverage across India.
Vodafone Idea is financing its current capex through an equity raise. The company is in advanced discussions with both existing and new lenders to secure ₹25,000 crore in funded facilities and an additional ₹10,000 crore in non-fund-based support for its long-term plans.
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