Voda Idea says it’s in talks with Ericsson and other network vendors for buying 5G gear, shares jump 12% o – The Economic Times

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Vodafone Idea (Vi) has confirmed it’s in talks with various network vendors, including Sweden’s Ericsson, to buy 5G network gear.
Shares of Vi had jumped almost 12% on BSE before closing 7.6% higher at Rs 15.11. Vi’s statement came in response to an exchange query amid news reports of the telco being in discussions with Ericsson for 5G gear procurements.

“…the company is enlarging its footprint with 5G rollout, and in connection with the same, it is in discussions with various network vendors, including Ericsson, for supply of network gear for the 5G rollout,” Vi said in its response to a BSE query Friday evening.

Earlier this week, Ericsson India MD Nitin Bansal had told ET that the Swedish gear maker is hopeful of getting some 4G/5G deals from Vi soon, especially after the beleaguered telco recently raised over Rs 20,000 crore via the equity route.

ET had also reported that Vi has expedited talks with both Ericsson and Nokia to upgrade its 4G network and that purchase orders (POs) are likely to be issued in June-July after the next round of spectrum auction scheduled to start on June 6.
Having raised over Rs 20,000 crore via a follow-on-public offer (FPO) and capital infusion by one of its promoters (read: Aditya Birla Group), Vi is in discussions with a consortium of banks to borrow up to Rs 25,000 crore and additional non-fund-based facilities of Rs 10,000 crore.
Vi CEO Akshaya Moondra has said the targeted Rs 50,000-55,000 crore funding will be used as capex over the next three years to boost 4G coverage, 4G capacity and kick-start greenfield 5G rollouts in key markets.

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