DoT seeks Rs 2,100 cr bank guarantee from Idea to clear Vodafone merger deal
"DoT will raise demand for around Rs 2,100 crore bank guarantee from Idea Cellular before merger of Vodafone India. The amount pertains to one time spectrum fee of Idea Cellular. Idea Cellular will be asked to replace one year bank guarantee of Vodafone India submitted for deferred spectrum payment," the government source told PTI.
Idea and Vodafone have decided to combine their operations to create the country's largest telecom operator. Image source: Reuters