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Telecommunication

India's Vodafone Idea to raise up to $3bn in fight for survival

Attention turns to prospect of tie-up with strategic investor after huge payment burden

Vodafone Idea has been the hardest hit of Indian telecoms ordered to pay years of back fees to the government.   © Reuters

MUMBAI -- Vodafone Idea, India's third largest telecom company, plans to raise up to 250 billion rupees ($3.41 billion) through a mix of equity and debt to build a war chest needed to compete with Reliance Jio Infocomm and Bharti Airtel.

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