Shares of loss-making Vodafone Idea rose as much as 12%, after media said the di...
) rose as much as 12%, after media said the distressed Indian telecom operator would pay some of its staggering government dues of $3.9 billion on Monday, to avoid violating court orders.
On Friday, India ordered mobile carriers to immediately pay nearly $13 billion in dues after the Supreme Court threatened the companies and officials with contempt for failing to implement an earlier ruling. The shares of the company, which fell more than 24% percent after Friday’s ruling, recovered on Monday to trade up 15% by mid-morning.
“The Supreme Court’s major contention was that there was no intent by telcos to pay the dues,” he added. “It was after that the company made a self-assessment and made an announcement on Saturday and we had the reports later.”Vodafone Idea would pay off part of the dues owed in licensing and spectrum fees on Monday.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lady Gaga Shares Sweet Valentine's Day Selfie with Her New Boyfriend Michael PolanskyA source recently told PEOPLE that Lady Gaga and Michael Polansky met through mutual friends
Read more »
Emma Willis shares video of husband Matt Willis bowling on fun Valentine's Day dateJust when you thought Emma and Matt Willis couldn't get any cuter…
Read more »
One Show host Matt Baker shares photo of baby lamb born on his family farmMatt Baker has welcomed a very special addition to his family…
Read more »
Tesla sold shares at the steepest discount it’s ever given investorsTesla investors who got in on Thursday’s share sale received the steepest discount Tesla has offered in its 10-year history as a public company.
Read more »
Princess Eugenie shares never-before-seen photo with Jack Brooksbank from early days of datingPrincess Eugenie has posted a never-before-seen throwback photo with her husband Jack Brooksbank from 2010, when the couple first started dating – see the Instagram snap
Read more »
Britney Spears' Boyfriend Sam Asghari Shares Romantic Valentine's Day Tribute to His 'Lioness'Britney Spears and Sam Asghari first met on the set of her 'Slumber Party' music video
Read more »