On Monday Vodafone Idea Ltd joined their hands to rebrand their name as the debt-ridden telecom service providers. The company has been losing its customers for quite long, but now it is working to change its image by joining hands in the biggest merger in India’s Telecoms market.
The joint venture between Vodafone India and Idea cellular will go by the brand name Vi, i.e. Vodafone idea ltd.
Vodafone India’s previous brand names
Max touch
Orange
Hutch
Vodafone
Idea’s previous brand names
Birla AT and T
Birla Tata and AT and T
Idea Cellular
Vodafone Idea Together
Vi
This plan was announced long back in the year 2018 in the vision of the government’s Digital India campaign. According to Vodafone Group Plc CEO, Nick Read, this merger was a very vital step to launch the new business under a new brand. As the union is finally complete, this is the time for a fresh start for both the companies.
Kumar Mangalam Birla shared their views on the new brand and said that Vodafone and Idea already have a significant impact on people’s lives, with a massive number of customers and providers of lowest tariffs across all regions. With their new brand Vi, the plan is to collaborate with the government to accelerate India’s progression towards a digital economy. This will enable every citizen of India to connect with the digital revolution and join hands in building a better tomorrow.
The company on Friday approved fundraising of up to Rs 25000 crores. According to the supreme court orders, the company has to pay Rs 50000 crore to the government for over ten years.
Telecom carriers in the country have raised their subscription tariffs as a way to pay back government levies.
In the month of may, Vodafone lost around 4.7 million customers, and Reliance Jio added 3.7 million customers. In June end Vodafone had a whopping debt of 1.19 lakh crores.
