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By P R Sanjai and Upmanyu Trivedi<\/strong>

Vodafone<\/a> Group Plc’s India unit is no longer considering bankruptcy<\/a>, according to people with knowledge of the matter, after winning some legal relief in a near two-decade payment dispute with the government.

The fine print of a Supreme Court<\/a> judgment published late Tuesday showed Vodafone Idea<\/a> Ltd. doesn’t need to make any immediate payments as a three-judge panel allowed phone operators 10 years to pay a combined $19 billion in back fees. In what’s being interpreted as a show of strength, Vodafone Idea’s board soon after said it would meet to discuss a fundraising.

The company’s shares closed 12% higher in Mumbai on Wednesday, almost recouping the previous day’s loss.

This week’s events are bolstering expectation that the teetering wireless carrier is looking for another shot at success in the world’s fastest-growing telecom market. The joint venture between Vodafone and billionaire Kumar Mangalam Birla’s conglomerate has been weighed down by a $7.8 billion bill from the government -- biggest among peers -- eight straight quarterly losses and over $14 billion of debt.

“A staggered payment regime provides some relief,” said Utkarsh Sinha, managing director at consultancy Bexley Advisors. “It gives Vodafone Idea the breathing room it needs to continue.”

Birla warned in December that the company was headed toward insolvency if there was no help from policy makers.
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<\/span><\/figcaption><\/figure>
Vodafone Idea’s next payout is due in 2022, given it has already paid about $1 billion that satisfies the court’s demand of a 10% payment by March 2021, according to a person familiar. Rival Bharti Airtel<\/a> Ltd., which has already raised enough cash to settle dues, has a $5.9 billion bill. Of that, it has already paid about $2.5 billion.

Telecom companies can seek a review petition of the court ruling -- an option Vodafone Idea and Bharti Airtel<\/a> are exploring, according to people familiar with the internal discussions.

Fine Print<\/strong>
By P R Sanjai and Upmanyu Trivedi<\/strong>

Vodafone<\/a> Group Plc’s India unit is no longer considering bankruptcy<\/a>, according to people with knowledge of the matter, after winning some legal relief in a near two-decade payment dispute with the government.

The fine print of a Supreme Court<\/a> judgment published late Tuesday showed Vodafone Idea<\/a> Ltd. doesn’t need to make any immediate payments as a three-judge panel allowed phone operators 10 years to pay a combined $19 billion in back fees. In what’s being interpreted as a show of strength, Vodafone Idea’s board soon after said it would meet to discuss a fundraising.

The company’s shares closed 12% higher in Mumbai on Wednesday, almost recouping the previous day’s loss.

This week’s events are bolstering expectation that the teetering wireless carrier is looking for another shot at success in the world’s fastest-growing telecom market. The joint venture between Vodafone and billionaire Kumar Mangalam Birla’s conglomerate has been weighed down by a $7.8 billion bill from the government -- biggest among peers -- eight straight quarterly losses and over $14 billion of debt.

“A staggered payment regime provides some relief,” said Utkarsh Sinha, managing director at consultancy Bexley Advisors. “It gives Vodafone Idea the breathing room it needs to continue.”

Birla warned in December that the company was headed toward insolvency if there was no help from policy makers.
\"\"
<\/span><\/figcaption><\/figure>
Vodafone Idea’s next payout is due in 2022, given it has already paid about $1 billion that satisfies the court’s demand of a 10% payment by March 2021, according to a person familiar. Rival Bharti Airtel<\/a> Ltd., which has already raised enough cash to settle dues, has a $5.9 billion bill. Of that, it has already paid about $2.5 billion.

Telecom companies can seek a review petition of the court ruling -- an option Vodafone Idea and Bharti Airtel<\/a> are exploring, according to people familiar with the internal discussions.

Fine Print<\/strong>