No progress made in Vodafone Idea funding talks with US' DFC, says DoT
Department of Telecommunications has noted Vodafone Idea's failure to close a funding from the US International Development Finance Corporation (DFC) for deployment of Open-RAN and related technologies, despite assurances by the telco that it would do so four months ago.
The government is the biggest shareholder in the cash-strapped carrier with a 33.1% stake.
Payment moratorium ends in FY26
«Vi had reported verbally that it is in discussions with US International Development Finance Corporation (DFC) for funding Open-RAN & related technologies, but no progress has been reported even after lapse of four months,» the DoT said in a January 4 confidential report on Vi.
ET has seen a copy of DoT's confidential report on the ailing telecom joint venture between the UK's Vodafone Plc and India's Aditya Birla Group.
The DFC is the US government's development finance institution that invests in multiple sectors, including critical infrastructure, technology, energy and healthcare.
It also partners with the private sector to finance solutions to critical challenges in the developing world.
«Discussions on funding are underway,» a Vi spokesperson said in a written response to ET's queries.
«As a listed company, we shall make disclosures at the appropriate time.»
Trials with Mavenir on
Earlier, Vi had told ET in November 2023 that Open-RAN (O-RAN) trials with US companies were being explored with an eye on deployment in the future. The telco has reportedly been holding trials with Mavenir for a 5G network based on O-RAN for a few circles and is in talks for equipment supply.
In its report, the DoT also underlined Vi's mounting dues. It has estimated that after the telco's four-year payment moratorium ends in FY26, Vi will
