New Street Research - Vodafone Idea Ltd (IDEA) Indian Telcos Rumours that Middle East Sovereign Wealth Funds are bidding on Indian Govt stake in Vodafone IDEA; Thoughts and implications for VIL and the other Indian Telcos

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New Street Research

Chris Hoare

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Indian Telcos Rumours that Middle East Sovereign Wealth Funds are bidding on Indian Govt stake in Vodafone IDEA; Thoughts and implications for VIL and the other Indian Telcos

Various Middle Eastern Newspapers have reported that both QIA and ADIA are in early stage talks to buy the Indian Govt’s stake in VIL. We see this as a bearish development for the other Indian telcos, and potentially for VIL too.

16/08/2024 1 EN

Underlying

Vodafone Idea Ltd

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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INE669E01016 National Stock Exchange of India India

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

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Analysts

Chris Hoare

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Indian Telcos Rumours that Middle East Sovereign Wealth Funds are bidding on Indian Govt stake in Vodafone IDEA; Thoughts and implications for VIL and the other Indian Telcos

Indian Telcos – Final AGR ruling and Vodafone IDEA Equipment deal – Our thoughts.

Indian Telcos Q1 FY25 review: Slower mobile with modest rise in margins

OpenAI: o3 is a game changer - a few steps away from AG. After the $1bn-to-train model, the $1m-inference model.

Airtel Africa (Buy, TP: GBp200, +85%) Second share buyback program

Takeaways from our conversation with VerticalScope (FORA-TO, Not rated)

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