• Vodafone Idea shares tumble 23% after India orders it to pay billions in dues

    7 days ago - By TechCrunch

    Shares of Vodafone Idea fell by more than 23% on Friday after India's apex court ordered the country's second-largest telecom operator and Airtel, the third-largest telecom network, to arrange and pay billions of dollars in dues in a month.
    In a strongly worded judgement, the Supreme Court rejected telecom networks' application to defer paying historic $13 billion levies to the government. “This is pure contempt, 100% contempt,” Justice Arun Mishra told lawyers.
    The order today, which may result in U.K. telecom giant Vodafone's local joint venture's collapse, saw Vodafone Idea's shares...
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