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Vodafone Idea's stock jumped 5% following a ₹30,000 crore deal with Nokia, Ericsson, and Samsung for network equipment, boosting the telecom's 4G and 5G expansion efforts.
At 11:20 AM on September 23, 2024, the share price of Vodafone Idea is trading at ₹11.04, showing a surge of 5.44%. This increase follows the company's recent securing of a ₹30,000 crore deal with Nokia, Ericsson, and Samsung. The agreement is intended to enhance the company's 4G and 5G network capabilities across key markets.
Nokia and Ericsson, long-time partners of Vodafone Idea, secured 50% and 40% of the deal’s volume, respectively, while Samsung took the remaining share. This contract marks the first phase of the telecom giant’s ₹66,000 crore capital expenditure plan, which includes expanding 4G coverage and launching 5G services.
The network equipment deal is expected to enhance energy efficiency, reduce operating costs, and improve service delivery. Vodafone Idea’s management remains optimistic about securing additional funding to support its long-term expansion strategy.
Source – Economic Times
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