Vodafone May Shut Down in India
Rumour mills are abuzz with news about india’s largest telecom company Vodafone’s financial woes and the possibility of it shutting shop in india.
There are some weird rumours going around in the Indian telecom industry. According to rumours, Vodafone is, which is one of the biggest telecom companies in India, may leave the Indian market because there have many losses. If Vodafone leaves from India, it is not clear what will happen to people using Vodafone in India. The Vodafone SIM may either stop working or its users may be transferred to some other company.Vodafone has suffered big losses this year. The price of the company's shares has been decreasing since the merger of Vodafone and Idea Cellular.
From May 2019-June 2019 which is the first quarter of the financial year, they suffered a loss of Rs 4,061.01 crore. While last year during the first quarter April-June 2018 they suffered a loss of Rs 2,757.60 crore.
Vodafone has not released any statement about if they will shut the company or not. They have said that these are rumours and they will pay all their debtors. Only time will tell what is the future of Vodafone in India.
