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KOLKATA | NEW DELHI: The telecom department (DoT<\/a>) is likely to shortly ask Vodafone<\/a> India and Idea<\/a> Cellular to collectively pay nearly $3 billion (Rs 18,870 crore approx) of dues relating to a mix of pending licence fees, spectrum usage charges (SUC) and one-time spectrum charges (OTSC<\/a>) as a pre-condition for clearing their mega merger, three people aware of the matter said.\n
\nVodafone India’s licence fee and SUC dues (including additional dues on these counts cited by a CAG July 2017 report) is roughly Rs 5,532 crore while its OTSC dues is about Rs 3,600 crore. Idea’s total licence fee\/SUC dues (including additional dues cited by CAG’s July 2017 report), in turn, is roughly Rs 7,625 crore while its OTSC dues are Rs 2,113 crore.
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\nAn executive at one of two companies said the government won’t be able to force either Vodafone India or Idea to clear their licence fee\/SUC dues since the matter pertains to computation of a telco’s adjusted gross revenue (AGR), an issue that has been under dispute for more than a decade and is sub judice.
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\nBut a DoT official said the department will shortly send demands to both companies for approximately Rs 19,000 crore.
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\nOTSC Dues Matter also in Court<\/strong>
\nEven if the licence fee and SUC dues are legally challenged, it will insist on bank guarantees for OTSC dues worth nearly Rs 5,713 crore in line with present telecom M&A rules, in the run-up to the merger. This despite the OTSC dues matter also being in court.
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\nA telco’s AGR is the revenue derived from licensed services. A telecom operator, typically, pays 8% of AGR as licence fee and roughly 5% as SUC, which are two key revenue streams for the government.
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\nA senior DoT official told ET that Idea, that is seeking approval of 100% foreign direct investment (FDI) in the company, is already in discussions with DoT—on behalf of both companies—to determine the total dues that the telco may have to pay up before the merger is approved. This is because the Kumar Birla-led carrier will “continue to be the licensee,” post merger with Vodafone India.
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\nAnother person familiar with regulatory compliance matters in an M&A scenario said Vodafone India “might be required to clear its near Rs 3,600-crore OTSC dues to DoT at the earliest,” since the company will no longer exist as a licencee after its merger into Idea.
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\n“But Idea, in this case, the acquirer, would be allowed to submit bank guarantees, equivalent to its Rs 2,113 crore OTSC dues, as a pre-condition to its proposed merger with Vodafone India,” he told ET.
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\nVodafone India and Idea had not replied to ET’s queries, till the time of going to press.
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\nThe OTSC dues are based on DoT rules that require a telco holding beyond 6.2 MHz\/circle between July 2008 and December 31, 2012, to pay a one-time market-linked price for the excess spectrum held. Likewise, the telcos are required to pay the market price for airwave holdings beyond 4.4 MHz\/circle between January 2013 till the expiry of their respective licences.
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\nHowever, the Telecom Disputes Settlement<\/a> and Appellate Tribunal (TDSAT) has ordered DoT to grant approval to Bharti Airtel’s acquisition of Telenor India without any bank guarantee.
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\nIndia's No 2 and No 3 carriers, Vodafone India and Idea Cellular, are merging their operations to create the country’s largest phone company with over 410 million customers, nearly 42% customer market share (CMS) and nearly 37% revenue market share (RMS), leaving it stronger placed to take on competitive pressures unleashed by 4G newcomer, Reliance Jio Infocomm.
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点问沃达丰,想法清楚会费值得Rs 19000 cr合并
沃达丰印度的执照费和往下会费(包括额外会费在这些方面援引CAG 2017年7月的报告)大约是5532卢比而OTSC费约为3600卢比。
加尔各答|新德里:电信部门(点不久)可能会问沃达丰(Vodafone)印度和的想法细胞共同支付近30亿美元(18870卢比约)税有关的悬而未决的许可证费用,频谱使用费用(往下)光谱和一次性费用(OTSC)作为结算的前提大型合并,三个人知道说。沃达丰印度的执照费和往下会费(包括额外会费在这些方面援引CAG 2017年7月的报告)大约是5532卢比而OTSC费约为3600卢比。想法总执照费/往下会费(包括额外会费援引CAG的2017年7月的报告),反过来,大约是7625卢比而OTSC会费是2113卢比。
两家公司之一的一位高管说,政府无法强迫沃达丰印度或想法清楚他们的执照费/往下费因为此事与电信的计算调整后的总收益(AGR),这个问题已经争论了十多年,是悬案。
但点官员表示,财政部不久将要求这两家公司大约19000卢比。
OTSC会费问题也在法庭上
即使执照费和往下费法律挑战,它将坚持银行担保OTSC费价值近5713卢比符合目前电信并购规则,在并购的准备阶段。尽管OTSC会费问题也出现在法庭上。
电信的AGR的收入来源于授权服务。一个电信运营商,通常,支付8%的AGR执照费和往下约5%,这是两个政府的重要收入来源。
点一位高级官员告诉ET的想法,这是寻求批准,该公司100%的外国直接投资(FDI),已经在讨论点代表的公司确定的总费电信可能不得不支付合并之前批准。这是因为Kumar Birla-led载体将“继续被许可方”,后合并沃达丰印度。
另一个人熟悉法规遵从性问题在一个并购场景说沃达丰印度“可能需要明确其价值3600卢比的附近OTSC会费点最早,“因为公司将不再作为一个获许可的人存在合并后的想法。
”但理念,在这种情况下,收购方,可以提交银行担保,相当于其2113卢比OTSC费,作为其拟议的合并的前提与沃达丰印度,”他告诉等。
沃达丰印度和想法没有回答等的查询,直到将新闻的时间。
OTSC费是根据点的规则,要求电信控股超过6.2 MHz /圆2008年7月至12月31日,2012年,支付一次性持有超额光谱那与市场挂钩的价格。同样,电信公司必须支付市场价格4.4 MHz /圈外的电波控股在2013年1月到各自的许可证期满。
然而,电信纠纷解决和上诉法庭(TDSAT)下令点批准印度Bharti Airtel收购Telenor的没有任何银行担保。
印度的2号和3号航空母舰,沃达丰印度和细胞,合并操作来创建中国最大的电话公司拥有超过4.1亿的客户,客户的市场份额近42% (CMS)和近37%的收入市场份额(RMS),使其更有力放置在竞争压力释放的4 g新来的人,依赖Jio Infocomm。
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