Vodafone Idea Concludes $3.6bn Deal with Nokia, Ericsson, and Samsung

Vodafone Idea Ltd (VIL) has concluded a $3.6bn deal with Nokia, Ericsson, and Samsung for the supply of network equipment over three years. This is the first step in VIL's three-year capex plan of $6.6bn, aimed at expanding 4G population coverage, launching 5G in key markets, and capacity expansion in line with data growth. The capex program will allow VIL to capitalize on the latest state-of-the-art equipment, offer enhanced customer experience, and lead to efficiency gains in energy and lower operating costs. The supplies against these new long-term awards will start in the coming quarter. VIL is currently funding the capex from its recent equity raise and is in advanced stages of discussions with its lenders for long-term funding.