Vodafone Idea’s (Vi) 5G service launch will depend on factors such as use cases, customer demand, competition and more, Managing Director and CEO Ravinder Takkar said at the company’s 27th Annual General Meeting (AGM) on Monday. V has already spent Rs. 4,940 crore investment and is in active discussions with investors to get more funds. Vi recently made a bid to acquire India’s 5G spectrum airwaves which reportedly added an annual installment liability of Rs. 1,680 crore on the company.
According to the Press Trust of India, V Proposed Appointing Akshaya Mundra, the company’s chief financial officer, as CEO and moving Takkar to the post of non-executive director.
Telecom company Rs. 5G spectrum has been acquired. 18,800 crore during the 5G spectrum auction in India. This includes 3.3GHz band in 17 priority circles and 26GHz band in 16 circles.
During the AGM meeting on Monday, Tucker said, “The 5G roll-out will depend on various factors such as how use cases evolve, demand from customers, capacity requirements as well as competitive dynamics.” However, the 5G bid has added an annual installation liability of Rs. 1,680 crore on the company.
Besides, Tucker claimed that the current mobile service rates offered by Vi are not sustainable and the rates need to be increased further.