New Street: Indian mobile VIL - Likely maximum capital raise would delay/not avoid the inevitable
Since the Indian govt announced their relief package for the Telco industry many clients have asked if this is enough to protect a 3-player market in the longer term. Having gone through Vodafone IDEA’s situation in detail we don’t think so. This note shows why.Idea Cellular provides Global System for Mobile Communications (GSM) based mobile services and related telephony services to individuals and businesses in India. The company operates through three segments: Mobility Services, which provides GSM based mobile and related telephony services; International Long Distance (ILD), which provides international long distance services; and Passive Infrastructure, which provides passive infrastructure services. Co. offers 2G and 3G services that comprise roaming arrangements; ILD and other services; and a range of mobile broadband devices, including dongles and 3G smartphones that provide 3G applications and data services.
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