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Vi finally gets its 5G groove on in Mumbai
MUMBAI: After watching rivals race ahead, beleaguered telecom operator Vodafone Idea (Vi) has finally unleashed its 5G services in Mumbai. The struggling carrier is betting its fashionably late entry will turn heads with unlimited data packages starting at a wallet-friendly Rs 299.
Vi’s arrival to the 5G party comes after the company raised a whopping Rs 26,000 crore in the past year, including India’s largest follow-on public offer worth Rs 18,000 crore and Rs 4,000 crore coughed up by its increasingly patient promoters.
The cash injection has enabled Vi to dust off ambitious expansion plans, with Rs 50,000-55,000 crore earmarked for network upgrades over the next three years. The company aims to blanket roughly 90 per cent of Indians with 4G coverage while rolling out 5G in “key geographies”—corporate speak for “where the money is”.
“Our focus is on introducing 5G meaningfully for our users,” said Vi chief technology officer Jagbir Singh. The firm has partnered with Nokia to deploy energy-efficient equipment that’s supposedly both leaner and greener.
Not content with merely catching up to competitors Reliance Jio and Bharti Airtel, Vi claims to have embraced artificial intelligence with an AI-based self-organising networks system. This whizzy bit of tech reportedly optimises network performance continuously, though sceptics might suggest the carrier focus on basics like keeping calls connected first.
The move comes as welcome news for Vi’s dwindling subscriber base, who have watched their chosen network struggle with debt while rivals hoovered up market share. OpenSignal reportedly ranks Vi’s 4G network as Mumbai’s best, though this will come as news to many of the city’s residents.
For videogamers, binge-watchers, and those who simply enjoy browsing the internet without mysterious disconnections, Vi promises its unlimited 5G data will enhance experiences across streaming, gaming and real-time cloud access. The company has yet to announce when other Indian cities might join Mumbai in the 5G fast lane, saying only that expansion will happen “in a phased manner.”
Mumbai’s mobile users can check whether their devices are compatible with Vi’s newfound speed at myvi.in/5g-networK.
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Bill Ackman’s Pershing Square makes $64 billion bid to acquire Universal Music Group
Ackman pitches NYSE relisting plan as UMG board weighs unsolicited offer
The hedge fund has proposed a business combination that values UMG at €30.40 per share, representing a hefty 78 per cent premium to its current trading price. The offer includes €9.4 billion in cash alongside stock in a newly formed entity, with shareholders set to receive €5.05 per share in cash and 0.77 shares in the new company for each UMG share they hold.
Under the proposal, UMG would merge with Pershing Square SPARC Holdings Ltd and re-emerge as a Nevada-based entity listed on the New York Stock Exchange. The move is designed to boost investor visibility and potentially secure inclusion in major indices such as the S&P 500.
Pershing Square Capital Management ceo Bill Ackman argued that while UMG’s operational performance remains strong, its market valuation has lagged due to external factors. “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business,” Ackman said, pointing to concerns ranging from shareholder overhang to delayed US listing plans.
Ackman also flagged what he sees as untapped potential in UMG’s balance sheet and a lack of clear capital allocation strategy. He added that the market has not fully recognised the value of UMG’s €2.7 billion stake in Spotify, alongside gaps in investor communication.
The proposed transaction would also result in the cancellation of around 17 per cent of UMG’s outstanding shares, while maintaining its investment-grade balance sheet. Pershing Square has said it will fully backstop the equity financing, with debt commitments secured at signing. The deal is targeted for completion by the end of the year.
UMG, however, has struck a measured tone. The company confirmed that its board has received the non-binding proposal and will review it with advisers. It reiterated confidence in its current strategy and leadership under Lucian Grainge, signalling no immediate shift in stance.
The proposal comes at a time when global music companies are navigating evolving investor expectations, streaming economics and capital allocation pressures. For Pershing Square, the bet is clear: sharpen the financial story, relist in the US, and let the music play louder in the markets.
Whether UMG’s board is ready to change the tune remains to be seen, but the spotlight on its valuation just got a lot brighter.
