Vodafone Idea Limited Accuses DoT For Overcharging Spectrum Fee During Merger.Vodafone Idea wants the telecom department to recalculate the Rs 3,926.34 crore it had paid as spectrum price to get the government’s approval for the merger that created the company.About two weeks ago, the newly formed company wrote to the Department of Telecommunications (DoT), saying it was overcharged, especially for certain circles. “They brought up a difference of opinion with DoT on indexation charges and prices they paid for spectrum in certain circles like Himachal Pradesh, Tamil Nadu and Bihar,” said a DoT official. Indexation here is a calculation done to bring the price to current market value where the airwaves were issued at government-decided price and not through auction. According to rules, a merger or acquisition can be cleared only if the companies liberalise their non-auctioned spectrum by paying the difference between the price paid at the time of airwave allocation and the current market price.Vodafone Idea’s letter also suggested that there were double calculation for spectrum-related dues for Chennai and the rest of Tamil Nadu. DoT charged a similar amount for both circles. The company said the rate should be based on population and therefore could not be the same. Vodafone India and Idea Cellular paid Rs 3,926.34 crore in cash and furnished bank guarantees for Rs 3,322.44 crore, following which DoT cleared the deal. The companies completed their merger on August 31 to create Vodafone Idea.
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| Science & Technology | Upload TimePublished on 21 Sep 2018 |
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