Vodafone Idea

Vodafone: India value extraction on the horizon?

Vodafone Idea – Government to more than double their stake, approaching control. Implications for VI, Vodafone, Indus and other Indian operators

Indian Telcos - Q3 FY25 review: Sustained margin expansion from July’s price increase

Vodafone Idea – Q3 FY25 Quick Take: Mixed, 5G services to launch in March

Indian Telcos: News reports that the Indian government may voluntarily give telcos $12bn of relief on AGR liabilities would be a thesis-changing event. If it happens it would be probably the biggest ever positive regulatory decision in EM Telco history. Implications for VI, Bharti, RIL, Indus, Vodafone & Singtel. Lift price targets for both VI and Indus. VI to Neutral.