X

我们使用cookie,以确保适合你的经验

我们用饼干和其他跟踪技术来提高你的浏览体验在我们的网站上,显示个性化内容和有针对性的广告,分析网站流量,并理解我们的观众来自哪里。你也可以阅读我们的隐私政策,我们使用cookie来确保你在我们的网站上的最好的体验。

选择我接受,或继续在网站上,你同意我们使用饼干和条款和条件。

得到应用
\"\"NEW DELHI: India’s largest telcos — Bharti Airtel<\/a>, Vodafone<\/a> India and Idea<\/a> Cellular — have rejected Reliance Jio<\/a>’s charge that the financial stress in their businesses was due to their dependence on debt, and blamed high government fees as well as the newcomer’s free offers for their woes. In a presentation to a panel of officials from finance and telecom ministries on Friday, Bharti said, “Jio has misrepresented reality to you.”
\n
\nThis was in response to Mukesh Ambani-owned telco’s representation to the same committee on Wednesday in which it accused the three incumbents of not making adequate equity investments in their businesses, leaving them highly leveraged. The high leverage and under investment in new technologies limited the incumbents’ ability to generate revenue from new generation of services, it said. It added that the three must invest equity of up to Rs 125,000 crore in their businesses to alleviate the financial stress.
\n
\nBut this was contested by the older operators. “Both equity and debt come at a cost – while the cost of debt is well known, it is in fact lower than cost of equity – where requirements for dividends are in fact higher than interest payments on debt,” Airtel said.
\n
Both Bharti Airtel and Idea said that the stress in the sector was reflected in its low return on capital employed (RoCE), which was most likely in the negative, for the industry<\/a> as a whole. Airtel’s was around 5.8%.
\n
\n“Can the RoCE problem be solved by capital structure changes i.e. reducing debt\/increasing equity or vice-versa? No, fundamental financing principles of any business imply that RoCE is independent of where the capital comes from – debt or equity,” Airtel said.
\n
\nThe three telcos also disputed the charge that they had not made adequate equity infusions.
\n
\nAirtel said it had invested Rs 125,000 crore in capex and spectrum cost between FY12 and FY17, of which Rs 79,000 crore was equity. Idea said it had invested over Rs 77,000 crore between FY14 and FY17, split almost equally between equity and debt. Vodafone Group Plc. said it had invested Rs 54,000 crore in equity in its India operations since 2015.
\n
\nIndustry meetings with the inter-ministerial group (IMG) are taking place in the background of the telecom sector reeling under massive debt. Banks put the total debt from the sector at around Rs 8 lakh crore, including loans from Indian banks, overseas borrowings and annual installments for spectrum bought in auctions over the last few years, and have raised concerns of loan defaults.
\n
\nFY18 OUTLOOK<\/strong>
\nCarriers are also facing pressure on revenue and profitability amid increasing price competition intensified by the entry of Reliance Jio, and called for government support with the industry needing to invest around Rs 2 lakh crore over the next three years in towers, spectrum and fibre.“Based on financial reporting of four operators (Airtel, Idea, Vodafone and Reliance Communications), industry has lost around Rs 8,200 crore of revenue in H2 FY17 over H1 FY17,” Idea said, blaming it on Jio’s free offers-,which the incumbents termed as ‘predatory’. It added that there was no basis for fast recovery of industry revenue as steep fall in voice and data rates wasexpected to continue in FY18.
\n
\nTo alleviate stress, the three carriers sought lower licence fee, which is at 8% of adjusted gross revenue (AGR) at present, as well as lower spectrum usage charges (SUC). They have also called for higher inter-connect charges (IUC), which a telco pays to another on whose network a call terminates, besides setting a floor for voice rates. Both these demands have been opposed in the past by Jio, which has banked on free offers to attract over a 100 million subscribers since its September launch.
\n
\nThe three telcos also asked for a longer payment tenure for spectrum bought in auctions, a demand which has been opposed by Jio, which in fact asked for scrapping the staggered payment mechanism altogether.
\n
\nBID BURDEN<\/strong>
\nAirtel also rebutted Jio’s point that the existing deferred payment structurehad encouraged incumbents to bid irrationally, pushing up their debt further, pointing out that except for airwaves in the 900 MHz band in the 2014 and 2015 sale, bidding intensity for other bands like 1800 MHz and 2100 MHz had in fact fallen. “Spectrum prices escalated only for the 900 MHz band mainly due to bids by nonincumbents (read: Jio),” as incumbents would have been forced to shut their businesses as their licences were expiring, said India’s largest operator While Bharti Airtel suggested the licence fees can be cut to 3% through removal of Universal Services Obligation Fund (USOF) levy, Vodafone India suggested that the fee be subsumed in the goods and services tax, like the manufacturing sector.
\n
\n“If that’s not possible for any reason, then telecom services as a digital enabler should be taxed at 5% in GST, like other core sectors, instead of 18%,” a senior Vodafone executive told the IMG. Idea Cellular backed the move to make GST at 5% for telecom services, which lead to lowering of licence fee. The three carriers also called for lowering of the USOF levy and doing away with it over time.\n\n<\/body>","next_sibling":[{"msid":59187679,"title":"Tower companies plead to be part of government panel discussions on telecom woes","entity_type":"ARTICLE","link":"\/news\/tower-companies-plead-to-be-part-of-government-panel-discussions-on-telecom-woes\/59187679","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":59187750,"entity_type":"ARTICLE","title":"Airtel, Vodafone and Idea reject Jio's charge, say Mukesh Ambani's company misrepresented reality","synopsis":"Jio had claimed that the financial stress in top three telcos' businesses was due to their dependence on debt, and blamed high government fees.","titleseo":"telecomnews\/airtel-vodafone-and-idea-reject-jios-charge-say-mukesh-ambanis-company-misrepresented-reality","status":"ACTIVE","authors":[{"author_name":"Gulveen Aulakh","author_link":"\/author\/19656\/gulveen-aulakh","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/19656.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":19656,"author_name":"Gulveen Aulakh","author_seo_name":"gulveen-aulakh","designation":"Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-06-17 08:12:50","lastupd":"2017-06-17 10:52:56","breadcrumbTags":["Jio","Mukesh Ambani","Airtel","Vodafone","industry","idea","Indian telcos","Indian telecom woes"],"secinfo":{"seolocation":"telecomnews\/airtel-vodafone-and-idea-reject-jios-charge-say-mukesh-ambanis-company-misrepresented-reality"}}" data-authors="[" gulveen aulakh"]" data-category-name="" data-category_id="" data-date="2017-06-17" data-index="article_1">

Airtel,沃达丰(Vodafone)和想法拒绝Jio的指控,说穆凯什•安巴尼的公司歪曲现实

Jio声称,金融压力三大电信运营商的企业是由于他们对债务的依赖,并指责政府收费高。

Gulveen Aulakh
  • 更新在2017年6月17日我是52分
新德里:印度最大的电信公司——Bharti附近的旅馆,沃达丰(Vodafone)印度和的想法细胞- - -拒绝了依赖Jio的电荷,金融压力在他们的企业是由于其对债务的依赖,并指责政府费用高以及新人免费提供他们的困境。在报告的官员从金融和电信部门上周五,Bharti说,“Jio歪曲现实给你。”

这是为了应对穆克什Ambani-owned电信表示同一委员会周三在指责三个现有的没有足够的股权投资企业,让他们高杠杆。下的高杠杆和投资新技术有限公司现有的能力产生新一代的服务收入,它说。它补充说,三个必须的股权投资125000卢比的企业,以缓解金融压力。

但这是有争议的。“股票和债券的成本也是要付出代价的,而债务是众所周知的,它实际上是低于成本的股权分红——要求实际上是高于债务的利息,”Airtel说。

Bharti Airtel和想法都说压力部门反映在它的低资本回报率(RoCE),这是最有可能的负面的行业作为一个整体。旅馆是5.8%左右。

“RoCE的问题能被解决通过资本结构的变化即减少债务/股本增加,反之亦然?不,任何业务的基本融资原则意味着用独立于资本从哪里来——债务或股权,”Airtel说。

三大电信公司也有争议的费用还没有做出足够的股本注资。

Airtel表示,已投资125000卢比之间的资本支出和频谱成本关于FY17, 79000卢比是股本。想法表示,已投资77000卢比FY14和FY17之间,几乎各占一半股权和债务。沃达丰集团。表示,已投资54000卢比在其印度业务自2015年以来股本。

行业与部际会议组(IMG)的背景发生在电信行业面临着巨额债务。银行部门的债务总额约8十万的卢比,包括印度的银行贷款、海外借款和年度部分频谱在拍卖买在过去的几年里,和增加了贷款违约的担忧。

FY18前景
航空公司也面临着压力,收入和利润在增加价格竞争加剧Jio条目的依赖,并呼吁政府支持的行业需要投资约2十万的卢比在未来三年塔、频谱和纤维。“基于财务报告的四个运营商(Airtel主意,沃达丰和Reliance Communications),行业已经失去了大约8200卢比的收入在H1 H2 FY17 FY17,”说,把它归咎于Jio是免费提供的,而在职者称为“掠夺性”。它补充道,没有快速恢复的基础产业收入是语音和数据率急剧下降,预计在FY18继续。

缓解压力,三家运营商寻求降低执照费,这是调整后的总收益的8% (AGR)目前,以及较低的频谱使用费用(往下)。他们还呼吁更高的互相交结指控(IUC),一个电信支付到另一个网络上的一个电话终止,除了设置利率的地板上的声音。这些要求都被Jio反对过去,倾斜在免费提供9月启动以来,吸引了1亿用户。

三大电信公司还要求更长的付款频谱在拍卖买的任期,Jio需求一直反对,实际上要求取消交错完全支付机制。

投标的负担
Airtel还驳斥了Jio的观点,现有的延期付款structurehad鼓励现有报价不合理,进一步推高了它们的债务,指出除了电波在900 MHz乐队在2014年和2015年的销售、投标强度等其他的乐队1800 MHz和2100 MHz实际上下降了。“900 MHz频段频谱价格只升级主要是由于投标由nonincumbents(阅读:Jio),”现任者将被迫关闭了他们的业务许可证到期,说,印度最大的运营商Bharti Airtel建议的许可证费用可以减少到3%通过删除普遍服务义务基金(USOF)征税,沃达丰印度建议的费用是包含在商品及服务税,像制造业。

“如果那是不可能的因为任何原因,电信服务作为一个数字推动者应该在销售税税率5%,与其他核心部门,而不是之前的18%,“沃达丰(Vodafone)一位高管告诉IMG。概念手机支持移动为电信服务5%的销售税,这导致降低执照费。的三家运营商还呼吁降低USOF利维和废除它。
  • 发表在2017年6月17日08:12点坚持
是第一个发表评论。
现在评论

评论

现在评论 阅读评论(1)

加入2 m +行业专业人士的社区

订阅我们的通讯最新见解与分析。乐动扑克

下载ETTelec乐动娱乐招聘om应用

  • 得到实时更新
  • 保存您最喜爱的文章
扫描下载应用程序
  • 家
  • 乐动扑克
  • Airtel,沃达丰(Vodafone)和想法拒绝Jio的指控,说穆凯什•安巴尼的公司歪曲现实
\"\"NEW DELHI: India’s largest telcos — Bharti Airtel<\/a>, Vodafone<\/a> India and Idea<\/a> Cellular — have rejected Reliance Jio<\/a>’s charge that the financial stress in their businesses was due to their dependence on debt, and blamed high government fees as well as the newcomer’s free offers for their woes. In a presentation to a panel of officials from finance and telecom ministries on Friday, Bharti said, “Jio has misrepresented reality to you.”
\n
\nThis was in response to Mukesh Ambani-owned telco’s representation to the same committee on Wednesday in which it accused the three incumbents of not making adequate equity investments in their businesses, leaving them highly leveraged. The high leverage and under investment in new technologies limited the incumbents’ ability to generate revenue from new generation of services, it said. It added that the three must invest equity of up to Rs 125,000 crore in their businesses to alleviate the financial stress.
\n
\nBut this was contested by the older operators. “Both equity and debt come at a cost – while the cost of debt is well known, it is in fact lower than cost of equity – where requirements for dividends are in fact higher than interest payments on debt,” Airtel said.
\n
Both Bharti Airtel and Idea said that the stress in the sector was reflected in its low return on capital employed (RoCE), which was most likely in the negative, for the industry<\/a> as a whole. Airtel’s was around 5.8%.
\n
\n“Can the RoCE problem be solved by capital structure changes i.e. reducing debt\/increasing equity or vice-versa? No, fundamental financing principles of any business imply that RoCE is independent of where the capital comes from – debt or equity,” Airtel said.
\n
\nThe three telcos also disputed the charge that they had not made adequate equity infusions.
\n
\nAirtel said it had invested Rs 125,000 crore in capex and spectrum cost between FY12 and FY17, of which Rs 79,000 crore was equity. Idea said it had invested over Rs 77,000 crore between FY14 and FY17, split almost equally between equity and debt. Vodafone Group Plc. said it had invested Rs 54,000 crore in equity in its India operations since 2015.
\n
\nIndustry meetings with the inter-ministerial group (IMG) are taking place in the background of the telecom sector reeling under massive debt. Banks put the total debt from the sector at around Rs 8 lakh crore, including loans from Indian banks, overseas borrowings and annual installments for spectrum bought in auctions over the last few years, and have raised concerns of loan defaults.
\n
\nFY18 OUTLOOK<\/strong>
\nCarriers are also facing pressure on revenue and profitability amid increasing price competition intensified by the entry of Reliance Jio, and called for government support with the industry needing to invest around Rs 2 lakh crore over the next three years in towers, spectrum and fibre.“Based on financial reporting of four operators (Airtel, Idea, Vodafone and Reliance Communications), industry has lost around Rs 8,200 crore of revenue in H2 FY17 over H1 FY17,” Idea said, blaming it on Jio’s free offers-,which the incumbents termed as ‘predatory’. It added that there was no basis for fast recovery of industry revenue as steep fall in voice and data rates wasexpected to continue in FY18.
\n
\nTo alleviate stress, the three carriers sought lower licence fee, which is at 8% of adjusted gross revenue (AGR) at present, as well as lower spectrum usage charges (SUC). They have also called for higher inter-connect charges (IUC), which a telco pays to another on whose network a call terminates, besides setting a floor for voice rates. Both these demands have been opposed in the past by Jio, which has banked on free offers to attract over a 100 million subscribers since its September launch.
\n
\nThe three telcos also asked for a longer payment tenure for spectrum bought in auctions, a demand which has been opposed by Jio, which in fact asked for scrapping the staggered payment mechanism altogether.
\n
\nBID BURDEN<\/strong>
\nAirtel also rebutted Jio’s point that the existing deferred payment structurehad encouraged incumbents to bid irrationally, pushing up their debt further, pointing out that except for airwaves in the 900 MHz band in the 2014 and 2015 sale, bidding intensity for other bands like 1800 MHz and 2100 MHz had in fact fallen. “Spectrum prices escalated only for the 900 MHz band mainly due to bids by nonincumbents (read: Jio),” as incumbents would have been forced to shut their businesses as their licences were expiring, said India’s largest operator While Bharti Airtel suggested the licence fees can be cut to 3% through removal of Universal Services Obligation Fund (USOF) levy, Vodafone India suggested that the fee be subsumed in the goods and services tax, like the manufacturing sector.
\n
\n“If that’s not possible for any reason, then telecom services as a digital enabler should be taxed at 5% in GST, like other core sectors, instead of 18%,” a senior Vodafone executive told the IMG. Idea Cellular backed the move to make GST at 5% for telecom services, which lead to lowering of licence fee. The three carriers also called for lowering of the USOF levy and doing away with it over time.\n\n<\/body>","next_sibling":[{"msid":59187679,"title":"Tower companies plead to be part of government panel discussions on telecom woes","entity_type":"ARTICLE","link":"\/news\/tower-companies-plead-to-be-part-of-government-panel-discussions-on-telecom-woes\/59187679","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":59187750,"entity_type":"ARTICLE","title":"Airtel, Vodafone and Idea reject Jio's charge, say Mukesh Ambani's company misrepresented reality","synopsis":"Jio had claimed that the financial stress in top three telcos' businesses was due to their dependence on debt, and blamed high government fees.","titleseo":"telecomnews\/airtel-vodafone-and-idea-reject-jios-charge-say-mukesh-ambanis-company-misrepresented-reality","status":"ACTIVE","authors":[{"author_name":"Gulveen Aulakh","author_link":"\/author\/19656\/gulveen-aulakh","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/19656.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":19656,"author_name":"Gulveen Aulakh","author_seo_name":"gulveen-aulakh","designation":"Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-06-17 08:12:50","lastupd":"2017-06-17 10:52:56","breadcrumbTags":["Jio","Mukesh Ambani","Airtel","Vodafone","industry","idea","Indian telcos","Indian telecom woes"],"secinfo":{"seolocation":"telecomnews\/airtel-vodafone-and-idea-reject-jios-charge-say-mukesh-ambanis-company-misrepresented-reality"}}" data-news_link="//www.iser-br.com/news/airtel-vodafone-and-idea-reject-jios-charge-say-mukesh-ambanis-company-misrepresented-reality/59187750">