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\"\"MUMBAI: Vodafone<\/a> Group CEO Vittorio Colao<\/a> downplayed concerns about subscriber market share loss to Bharti Airtel<\/a> in the lead up to the merger of its Indian arm with Idea Cellular<\/a>, saying the two sides have planned well and that in any case they need to lose some to conform to sector rules on how many they can hold in a circle.
\n
In a call with analysts after Vodafone Group’s earnings on Thursday, CFO Nick Read said the UK telecom major may look at using funds from its 42% stake in tower company Indian Indus Towers<\/a> to infuse into the joint venture, if needed in future. Experts have said that funds infusion into the merged company may become necessary given the poor financial performance of the two Indian telcos.
\n
\nRead though said the JV has already “taken action”, such as selling their respective standalone towers for $1.2 billion, and that they expect another over $1 billion from Idea's 11% stake in Indus Towers. Vodafone had earlier said it expects about $5 billion from sale of its stake in Indus Tower, in which Bharti Airtel owns 42% and private equity player Providence about 5%.
\n
\nALSO READ: Vodafone India Q3 revenue drops 23%; IUC cut, price war hurts<\/a><\/strong>
\n
\nOn market share losses, Colao said, “You would have to believe that if you were Bharti, right? We have been planning for this for a long time. We had planned as well as we can. And we are confident that we'll do a good job. The results will be seen in the market”.
\n
\nColao was responding to a question on whether Bharti Airtel was right in assuming that the largescale merger would give the market leader a window to grab more customers.
\n
\nTwo weeks ago, Gopal Vittal, CEO of Bharti Airtel (India, South Asia) had told analysts that mega mergers, like the one between Vodafone India and Idea Cellular, with very different cultures would be very tough to pull off.
\n
\n\"When Vodafone and Hutch merged in Australia, the combined entity lost 13-14 market share points,\" Vittal had said, indicating that Airtel potentially could gain market share while Vodafone and Idea conclude their complex merger, expected to close in March-April 2018.
\n
However, Vittorio said the merger in India was very different than the merger in Australia with Hutchison<\/a>.
\n
\n“The two companies, in a way, here (in India) are more complementary. Don't forget that in Australia, there was kind of a prepaid versus contracting. There was a very different positioning, and to some extent, head-on positioning of the two brands. And then, every market is a different story. So, I will not be arrogant. We had planned as well as we can (on the India merger),” said Colao.
\n
\nVodafone Australia (VHA) is the result of a merger between Vodafone Australia and Hutchison 3G Australia in 2009.
\n
\nALSO READ: Airtel, Vodafone & Idea gear up to match Reliance Jio’s Rs 49 a month plan<\/a><\/strong>
\n
\nThe CEO, however, added that they would lose some subscriber market share, because the joint entity would be over the “competition cap”. India’s telecom M&A rules require that a merged entity’s combined subscriber market share and revenue market share (RMS) should not exceed 50% in any circle. Vodafone India and Idea are in the process of merging their operations.
\n
\nThe merged entity will face Reliance Jio and Bharti Airtel in an intensely competitive market which has hit revenue, profitability and cash flows.
\n
\nOn Thursday, Vodafone said its India third-quarter service revenue and Ebitda dropped over 23% and 43.5% year-on-year, respectively, reeling from the effects of the recent cut in interconnect usage charges (IUC) and ongoing tariff wars. Idea has been making losses for the last five quarters. Its October-December quarter was its worst ever with Ebitda falling 44%, leading analysts to say that the two would need to infuse more equity into the merged entity.
\n
\nAnalysts have said that Idea's present monestisation options — including the announced capital raising initiative worth Rs 6,750 crore, a potential sale of its 11.15% in Indus Towers, coupled with proceeds from sale of its captive towers to American Tower Corp (ATC) — may not be enough to bring down leverage ratio to 6.5X Ebitda by the close of the merger.
\n
\n“We’re confident that any support that we may be required on funding going forward, we've got the Indian tower assets. And, therefore, it won't have an impact to the group's reported leverage position,” Read said.
\n<\/body>","next_sibling":[{"msid":62759894,"title":"BSNL seeks Rs 6,652 cr as equity infusion from govt: Manoj Sinha","entity_type":"ARTICLE","link":"\/news\/bsnl-seeks-rs-6652-cr-as-equity-infusion-from-govt-manoj-sinha-pti-2-hours-ago\/62759894","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":62764233,"entity_type":"ARTICLE","title":"Vodafone Group CEO downplays concerns about subscriber market share loss","synopsis":"Colao said, \u201cYou would have to believe that if you were Bharti, right? We have been planning for this for a long time. We had planned as well as we can. And we are confident that we'll do a good job.\"","titleseo":"telecomnews\/vodafone-group-ceo-downplays-concerns-about-subscriber-market-share-loss","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479212895\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479212895.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479212895,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Senior Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2018-02-03 08:07:48","lastupd":"2018-02-03 08:11:45","breadcrumbTags":["Vodafone","Vittorio Colao","Indus Towers","Hutchison","Airtel","industry","Idea Cellular"],"secinfo":{"seolocation":"telecomnews\/vodafone-group-ceo-downplays-concerns-about-subscriber-market-share-loss"}}" data-authors="[" devina sengupta"]" data-category-name="" data-category_id="" data-date="2018-02-03" data-index="article_1">

沃达丰集团首席执行官轻视用户市场份额损失的担忧

科劳说,“你必须相信,如果你是Bharti对吧?我们已经计划了很长一段时间。我们原来计划以及我们可以。我们有信心,我们会做一个好工作。”

Devina森古普塔
  • 更新于2018年2月3日08:11点坚持
孟买:沃达丰(Vodafone)集团首席执行官维托里奥·科劳淡化用户市场份额输给Bharti的担忧附近的旅馆在导致其印度子公司的合并知道细胞说,双方计划在任何情况下,他们需要失去一些符合行业规定多少他们可以持有围成一个圈。

在与分析师的电话后,沃达丰集团的收益周四,首席财务官尼克读表示,英国电信主要可能看使用基金从其印度塔公司42%的股份印度塔注入到合资公司,如果需要在未来。专家表示,资金注入必要的合并后的公司可能会给穷人两个印度电信公司的财务表现。

阅读虽然表示,合资企业已经“采取行动”,如销售各自独立的塔以12亿美元的价格,他们期望另一个超过10亿美元从想法的印度河塔11%的股份。沃达丰(Vodafone)早些时候曾表示,预计约50亿美元从印度河塔出售其股份,Bharti Airtel拥有42%和私人股本球员普罗维登斯约5%。

还读:沃达丰印度第三季度收入下降23%;IUC削减,价格战很伤我的心

在市场份额的损失,科劳说,“你必须相信,如果你是Bharti对吧?我们已经计划了很长一段时间。我们原来计划以及我们可以。我们有信心,我们会做一个好工作。结果将出现在市场上。”

科劳是在回应一个问题是否Bharti Airtel在假设是正确的,大规模的合并将会使市场领导者一个窗口获取更多的顾客。

首席执行官两周前Gopal Vittal Bharti Airtel(印度、南亚)告诉分析师,大型并购,像沃达丰印度和思想之间的一个细胞,有非常不同的文化是非常艰难的。

“当沃达丰在澳大利亚和厨合并,合并后的实体失去市场占有率13 - 14点,“Vittal曾表示,表明Airtel可以获得市场份额而沃达丰和想法总结他们复杂的合并,预计2018年3月至4月结束。

然而,维托里奥表示,合并在印度非常不同于澳大利亚的合并和记黄埔。

“这两家公司,在某种程度上,在这里(在印度)互补。别忘了,在澳大利亚,有一种预付而收缩。有一个非常不同的定位,在某种程度上,正面两个品牌的定位。然后,每个市场都是不同的故事。所以,我不会傲慢。我们原计划以及我们可以合并(在印度),”科劳说。

沃达丰澳大利亚(VHA)的结果合并沃达丰澳大利亚和和记黄埔2009年3 g澳大利亚。

还读:Airtel,沃达丰&想法齿轮与信实Jio Rs 49一个月计划

然而,CEO还说,他们将会失去一些用户的市场份额,因为联合实体将在“竞争帽”。印度电信并购规定要求合并后的实体用户市场份额和收入市场份额(RMS)不应超过50%在任何循环。沃达丰印度和想法的过程中合并操作。

合并后的实体将面临信实Jio和Bharti Airtel在一个竞争激烈的市场收入,利润和现金流。

沃达丰(Vodafone)周四表示,其印度第三季度服务收入和息税前利润同比下降超过23%和43.5%,分别受到的影响最近互连使用费用(IUC)削减关税和正在进行的战争。想法一直在过去五个季度亏损。其去年第四季度是有史以来最差的息税前利润下降了44%,分析家说,这两个需要注入更多股权合并后的实体。

分析师表示,这一想法的monestisation选项,包括宣布筹资计划价值6750卢比,在印度河塔可能出售其11.15%,加上所得出售其美国俘虏塔塔集团(ATC)——可能不足以降低杠杆比率接近6.5倍Ebitda的合并。

“我们相信,任何支持,我们可能需要资金,我们有印度塔资产。,因此它不会影响集团的报道利用位置,”说。
  • 发布于2018年2月3日08:07点坚持
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  • 沃达丰集团首席执行官轻视用户市场份额损失的担忧
\"\"MUMBAI: Vodafone<\/a> Group CEO Vittorio Colao<\/a> downplayed concerns about subscriber market share loss to Bharti Airtel<\/a> in the lead up to the merger of its Indian arm with Idea Cellular<\/a>, saying the two sides have planned well and that in any case they need to lose some to conform to sector rules on how many they can hold in a circle.
\n
In a call with analysts after Vodafone Group’s earnings on Thursday, CFO Nick Read said the UK telecom major may look at using funds from its 42% stake in tower company Indian Indus Towers<\/a> to infuse into the joint venture, if needed in future. Experts have said that funds infusion into the merged company may become necessary given the poor financial performance of the two Indian telcos.
\n
\nRead though said the JV has already “taken action”, such as selling their respective standalone towers for $1.2 billion, and that they expect another over $1 billion from Idea's 11% stake in Indus Towers. Vodafone had earlier said it expects about $5 billion from sale of its stake in Indus Tower, in which Bharti Airtel owns 42% and private equity player Providence about 5%.
\n
\nALSO READ: Vodafone India Q3 revenue drops 23%; IUC cut, price war hurts<\/a><\/strong>
\n
\nOn market share losses, Colao said, “You would have to believe that if you were Bharti, right? We have been planning for this for a long time. We had planned as well as we can. And we are confident that we'll do a good job. The results will be seen in the market”.
\n
\nColao was responding to a question on whether Bharti Airtel was right in assuming that the largescale merger would give the market leader a window to grab more customers.
\n
\nTwo weeks ago, Gopal Vittal, CEO of Bharti Airtel (India, South Asia) had told analysts that mega mergers, like the one between Vodafone India and Idea Cellular, with very different cultures would be very tough to pull off.
\n
\n\"When Vodafone and Hutch merged in Australia, the combined entity lost 13-14 market share points,\" Vittal had said, indicating that Airtel potentially could gain market share while Vodafone and Idea conclude their complex merger, expected to close in March-April 2018.
\n
However, Vittorio said the merger in India was very different than the merger in Australia with Hutchison<\/a>.
\n
\n“The two companies, in a way, here (in India) are more complementary. Don't forget that in Australia, there was kind of a prepaid versus contracting. There was a very different positioning, and to some extent, head-on positioning of the two brands. And then, every market is a different story. So, I will not be arrogant. We had planned as well as we can (on the India merger),” said Colao.
\n
\nVodafone Australia (VHA) is the result of a merger between Vodafone Australia and Hutchison 3G Australia in 2009.
\n
\nALSO READ: Airtel, Vodafone & Idea gear up to match Reliance Jio’s Rs 49 a month plan<\/a><\/strong>
\n
\nThe CEO, however, added that they would lose some subscriber market share, because the joint entity would be over the “competition cap”. India’s telecom M&A rules require that a merged entity’s combined subscriber market share and revenue market share (RMS) should not exceed 50% in any circle. Vodafone India and Idea are in the process of merging their operations.
\n
\nThe merged entity will face Reliance Jio and Bharti Airtel in an intensely competitive market which has hit revenue, profitability and cash flows.
\n
\nOn Thursday, Vodafone said its India third-quarter service revenue and Ebitda dropped over 23% and 43.5% year-on-year, respectively, reeling from the effects of the recent cut in interconnect usage charges (IUC) and ongoing tariff wars. Idea has been making losses for the last five quarters. Its October-December quarter was its worst ever with Ebitda falling 44%, leading analysts to say that the two would need to infuse more equity into the merged entity.
\n
\nAnalysts have said that Idea's present monestisation options — including the announced capital raising initiative worth Rs 6,750 crore, a potential sale of its 11.15% in Indus Towers, coupled with proceeds from sale of its captive towers to American Tower Corp (ATC) — may not be enough to bring down leverage ratio to 6.5X Ebitda by the close of the merger.
\n
\n“We’re confident that any support that we may be required on funding going forward, we've got the Indian tower assets. And, therefore, it won't have an impact to the group's reported leverage position,” Read said.
\n<\/body>","next_sibling":[{"msid":62759894,"title":"BSNL seeks Rs 6,652 cr as equity infusion from govt: Manoj Sinha","entity_type":"ARTICLE","link":"\/news\/bsnl-seeks-rs-6652-cr-as-equity-infusion-from-govt-manoj-sinha-pti-2-hours-ago\/62759894","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":62764233,"entity_type":"ARTICLE","title":"Vodafone Group CEO downplays concerns about subscriber market share loss","synopsis":"Colao said, \u201cYou would have to believe that if you were Bharti, right? We have been planning for this for a long time. We had planned as well as we can. And we are confident that we'll do a good job.\"","titleseo":"telecomnews\/vodafone-group-ceo-downplays-concerns-about-subscriber-market-share-loss","status":"ACTIVE","authors":[{"author_name":"Devina Sengupta","author_link":"\/author\/479212895\/devina-sengupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479212895.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479212895,"author_name":"Devina Sengupta","author_seo_name":"devina-sengupta","designation":"Senior Assistant Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2018-02-03 08:07:48","lastupd":"2018-02-03 08:11:45","breadcrumbTags":["Vodafone","Vittorio Colao","Indus Towers","Hutchison","Airtel","industry","Idea Cellular"],"secinfo":{"seolocation":"telecomnews\/vodafone-group-ceo-downplays-concerns-about-subscriber-market-share-loss"}}" data-news_link="//www.iser-br.com/news/vodafone-group-ceo-downplays-concerns-about-subscriber-market-share-loss/62764233">