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    Vodafone Idea shares rise 8% over buzz about asset sales to Brookfield, Edelweiss

    Vodafone Idea shares rise 8% over buzz about asset sales to Brookfield, Edelweiss

    Vodafone Idea shares rise 8% over buzz about asset sales to Brookfield, Edelweiss
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    By CNBC-TV18  IST (Published)

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    The fibre network business is valued at $1.5 billion-$2 billion, while the data centre should fetch $60 million to $100 million, bankers told the newspaper.

    Vodafone Idea shares surged nearly 8 percent in early trade after the Economic Times reported that the company is in talks to sell its 156,000 km of optic fibre assets to Brookfield Asset Management and its data centre located in Navi Mumbai to the Edelweiss Group.
    Bank of America and Morgan Stanley are helping Vodafone negotiate with potential buyers, the newspaper reported, citing a person privy to the discussions.
    Vodafone Idea shares rose as much as 7.9 percent to Rs 7.08 per share on the BSE.
    The fibre network business is valued at $1.5 billion-$2 billion, while the data centre should fetch $60 million to $100 million, bankers told the newspaper.
    Vodafone Idea has to pay over Rs 53,000 crore ($7.5 billion) after the Supreme Court upheld the government’s definition of adjusted gross revenue (AGR) for telcos to include revenue from non-core activities.
    The telecom operators have sought a review of the October 24 order, which stated that the dues should be cleared within three months.
    Earlier, CNBC Awaaz reported that the Department of Telecom (DoT) has asked telecom licence holders to fasten the process of self-assessment of adjusted gross revenue (AGR) based dues and their payment of over Rs 1.47 lakh crore.
    The DoT last week communicated to all telecom companies against any delay in the payment of AGR dues and has asked them to seek clarifications by December 13 on any doubts they may have regarding the recent Supreme Court judgment, according to a DoT letter sent to the companies and viewed by CNBC Awaaz.
     
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