Vodafone Idea on Monday launched a unified brand “Vi”, announced a unified brand identity to strengthen its position as a major telecom provider in India. Following the rebranding, Vodafone Idea will be known as ‘Vi’ (pronounced as We) and will also use a new logo. Ravinder Takkar, MD and CEO, Vodafone Idea Limited said, “Vodafone Idea came together as a merged entity two years ago. We have, since then focused on integrating the two large networks, our people, and processes. And today, I am delighted to present Vi.”
Shares of the telecom company rose by over 4 percent after the rebranding plan was made public. It happened after the telecom firm’s board agreed to raise Rs 25,000 crore through share sale and other strategic measures, aimed at clearing AGR dues as directed by the Supreme Court.
Kumar Mangalam Birla, chairman, Aditya Birla Group and Vodafone Idea Ltd said, “India is the 2nd largest telecom market and the largest data consumer, globally. With 1.2 Bn Indians accessing voice and data services at the world’s lowest tariffs across 5 lakh villages, the ubiquitous wireless network in India is unmatched for its reach and impact in people’s lives. With our new brand -Vi, we stand committed to partner the Government to accelerate India’s progression towards a digital economy, enabling millions of citizens to connect to the digital revolution and build a better tomorrow.”
Vodafone Group Plc CEO Nick Read said, “This is an important next step to launch our new unified business under a new unified brand, Vi. Back in 2018, the combination of Vodfaone India and Idea created the new champion for the government’s vision of Digital India. As the integration of the two business is complete, it’s time for a fresh start. That’s why we believe that now is the perfect time to launch Vi, one company which combines the strengths of Vodafone India and Idea. Vi’s focus will be to deliver to citizens and businesses in India a superior network experience, better customer service and leading products and services.”
In the last hearing on the AGR matter, the Supreme Court had asked the telecom operators to file their balance sheets for the last 10 years, including the year ending March 2020, as well as the Income Tax Returns and the particulars of AGR deposited during the last 10 years.