A man speaks on his mobile phone as he walks past logos of Vodafone painted on a roadside wall in Kolkata May 20, 2014. — Reuters pic
Vodafone’s chief executive had in November already cast doubt about its continued presence in India after its local joint venture Vodafone Idea posted a record quarterly loss. An appeal by Vodafone and Bharti Airtel, which was told to pay US$3 billion, was rejected on Thursday, with the supreme court also refusing to allow the payments to be staggered.
The only beneficiary is seen as Reliance Jio, the operator owned by Asia’s richest man Mukesh Ambani whose 2016 launch sparked a brutal price war and which escaped with a relatively light US$1.8 billion bill.
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