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DoT seeking legal opinion on Vodafone-Idea merger: Sources
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SME Times News Bureau | 19 Jun, 2018
The Department of Telecommunications (DoT) is seeking legal opinion on
the Vodafone-Idea Cellular merger in respect to Vodafone's
administratively allocated spectrum holdings, according to industry
sources.
As per merger and acquisition (M&A) guidelines, for
such spectrum holdings of acquired entity, acquirer has to pay
differential between the market determined price and the entry fee.
Such
payments have to be made for 4.4 MHz of spectrum on a pro-rata basis
for the remaining period of licence validity and DoT raised such demands
to Vodafone at the time of the merger of Vodafone group companies in
2015, sources said.
Vodafone had challenged these demands with
the Telecom Disputes Settlement and Appellate Tribunal (TDSAT), but part
of the demand (Rs 2,000 crore out of the Rs 6,700 crore) had been paid
on the directions of the Supreme Court.
Industry sources said the
issue now is that, with Vodafone being acquired by Idea, whether DoT
should raise the demand on Idea Cellular of the differential amount.
The
DoT is seeking legal opinion on whether a fresh demand can be raised on
Idea for the differential amount between the market determined price
and the entry fee paid for 4.4 MHz of administratively allocated
spectrum of Vodafone.
It is also seeking legal opinion on whether this would be wilful disobedience of the court.
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