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Vodafone CEO seeks rate cut for spectrum dues

Mr Colao sought a reduction in the interest rates for deferred spectrum payments to 6.25 per cent in line with the improved macro-economic trends.

New Delhi: Vodafone Group’s CEO Vittorio Colao has written to the telecom minister seeking a cut in interest rate on deferred spectrum payment and raising concerns over any move by Trai to reduce mobile termination charges.

With the panel on telecom expected to submit its recommendations for financial revival of the sector, Mr Colao sought a reduction in the interest rates for deferred spectrum payments to 6.25 per cent in line with the improved macro-economic trends and an increase in the period of payment for spectrum.

“On mobile termination charges (MTC), we are seriously alarmed to see reports that the regulator is considering a reduction in MTC at a time when the industry is facing such immense hardships. Any move to further reduce it risks destroying the very companies that have invested to build this sector,” said Mr Colao.

( Source : Deccan Chronicle. )
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