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telecom | IST

DoT rejects Vodafone, Idea requests to recalculate dues, says report

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The Department of Telecommunications (DoT) said the Vodafone India and Idea Cellular’s numbers are fine and rejected the companies requests to recalculate their dues.

The Department of Telecommunications (DoT) said the Vodafone India and Idea Cellular’s numbers are fine and rejected the companies requests to recalculate their dues, reported The Economic Times.
The DoT also asked the companies should pay up to get a final seal of approval on their merger at the earliest, the report said.
“The department’s calculations seeking bank guarantees and the cash payment from Idea Cellular and Vodafone India, respectively, are correct and have been communicated to the companies,” a senior DoT official was quoted as saying in the report.
Under a conditional merger nod given two weeks ago, the DoT demanded Rs 7,268 crore upfront payment towards dues it said the two telcos owe it, the report said, adding that it is split between a bank guarantee of Rs 3,342 crore on account of one-time spectrum charges claimed from Idea, and cash payment of Rs 3,926 crore towards market price for non-auctioned airwaves held by Vodafone India.