Vodafone Idea Will Now Be Known As VI Brand, Logo Changed Too
Veteran telecom company Vodafone Idea announced the company’s rebranding on Monday. The company will now be known by the new brand name ‘Vi’. According to the company, we can read it as ‘ We ‘. In a statement issued by the company, the integration of both brands has been termed as the largest integration of the telecom world. Vodafone Idea Ltd chairman Kumar Mangalam Birla said on the occasion that both Vodafone and Idea have set network experience, rural connectivity, customer service, enterprise mobility solutions, and many other new standards.
“Vodafone Idea was merged two years ago,” said Ravinder Percussion, MD and CEO of Vodafone Idea, while launching the new brand. We were working towards the integration of two large networks, our people, and the process. I am very happy to introduce the VI brand today… Indians are optimistic and want to move forward in life. ”
The company’s board had recently approved the proposal to raise Rs. 25,000 crore by issuing equity shares or through globed depository reseat, American depository reseat, foreign currency bonds, convertible debentures. This is expected to provide a lot of relief to the VIL in the cash crisis. The number of subscribers to the company has been declining continuously. Also, the user has decreased its average revenue. The company has to pay Rs 50,000 crore to the government as an outstanding AGR.
Last week Vodafone Idea said the company has not received any proposal to invest in the board from US wireless carrier Verizon Communications Inc. and Amazon.com Inc. Earlier, some media reports claimed that these two companies could invest in Vodafone Idea.
The company has informed about the announcement of strategic investment after the Supreme Court’s AGR decision. The Supreme Court in its judgment had given 10 years’ time to telecom companies to pay the outstanding adjusted gross revenue (AGR). However, Vodafone Idea Limited had sought 15 years ‘ time for the same.
The company was rebranded as Vodafone Idea Limited after the merger of Vodafone Idea and Idea Cellular on August 31, 2018. Kumar Mangalam Birla is the chairman of the company.