Vodafone Idea, a consolidated telecom, seeks equal stakes in the proposed optic fibre joint venture with the Indian telecom, Bharti Airtel which wants shareholdings in accord to ones asset acquisition in the proposed JV (Joint Venture), said an anonymous source to the Indian daily news.
The proposed joint venture estimates to be INR 40,000 crore and would be the biggest Indian telco.
Vodafone Idea, as well as Bharti Airtel, has been agreed to form the joint venture, with Airtel having 246,000 route km optic fibre and Vodafone Idea having 156,000 route km, acing the Indian telco, Reliance Jios 300,000 route km optic fibre, as reported by the Indian daily news.
The talks are quite advanced. They will certainly want to monetise (the JV) in some time, but there is no immediate need due to their ongoing fund-raising initiatives, said an anonymous source to the Indian daily news, apprising that the Joint Venture deal amounting INR 35,000-40,000 crore will close by June 30.
At present, Bharti Airtel has a larger network whilst Vodafone Ideas deployment is better than its arch rivals in metro cities like Mumbai and Delhi, said another anonymous source to the Indian daily news.