UK telecom company Vodafone may close its business in the coming days. According to news agency Reuters, Vodafone CEO Nick Reid has accused of non-cooperation, questioning the government's policies. Nick Reid said that financial burden has increased on us financially due to uncooperative regulations and too much tax. Meanwhile, the stock price of Vodafone-Idea has once again reached below 4 rupees.

What is the whole matter?

In fact, the government had asked the telecom companies including Vodafone-Idea to pay the government dues of Rs 92000 crore. Telecom companies reached the Supreme Court against this decision of the government, but they got a shock here. The apex court ordered the telecom companies to pay the dues within the stipulated time frame. According to news agency IANS, Bharti Airtel owes Rs 21,682.13 crore while Vodafone Idea owes Rs 19,822.71 crore for paying license fee to the government.

What did the CEO say?

Referring to these conditions, Vodafone CEO Nick Reid said that the government should take some lenient demand for the dues so that the business of Vodafone Group can continue in India even further. He said, 'We are financially burdened with unhelpful regulations, more tax and adverse judgment of the Supreme Court over it.' He further said that India has been very challenging for us for a long time. Asked if it was not possible for the company to remain in India without a relief package, he said, "This is a very serious situation." The government has said that it is not in favor of creating a monopoly situation. '

Idea merged in 2018

In the month of August 2018, the idea of ​​Indian entity of Vodafone Group came into existence with Cellular. After this merger, the company's new name was Vodafone-Idea Limited. After the merger, there are reports of continuous loss in the quarterly report of Vodafone-Idea. At the same time, the number of customers of Vodafone-Idea is also declining.