Vodafone Idea on Monday unveiled a new brand identity — VI (pronounced as We) — which is a fusion of the brand identities of Vodafone India and Idea.
Launching the brand, Ravinder Takkar, MD & CEO, Vodafone Idea said, “Vodafone Idea came together as a merged entity two years ago. We have, since then focussed on integrating two large networks, our people and processes. And today I am delighted to present Vi, a brand that will bring important meaning to lives of our customers.
“Indians are optimistic and want to get ahead in life. They would love a credible partner to help them on this journey. Vi’s positioning is built around this promise and will focus on meeting the customer’s needs to help them thrive.”
“Starting today, Vi ads will be on TV and digital platforms, followed by a high decibel intensive multi-media campaign. The brand buzz will then continue in the market over the coming weeks,” a statement said.
The company claimed that it had “readied a robust, future-fit network built on many principles of 5G architecture”.
There was no word on the fund-raising plan of Rs 25,000 crore unveiled last week or on the speculation surrounding Amazon and Verizon’s interest in picking up equity in the company which has an AGR burden of Rs 50,000 crore to pay over the next 10 years.
Takkar, however, said the Supreme Court’s decision to extend the payment timeline for AGR dues by 10 years was a “good outcome” but stressed that mobile tariffs would need to be raised to give sustainability and returns to companies.
The Voda Idea CEO said that in the past, the company had not shied away from raising tariffs — which are under forbearance — but insisted that the regulator and the government should take a call on fixing a minimum floor price.
The Vodafone Idea stock witnessed volatility on Monday as investors were expecting an announcement with regard to the induction of new strategic investors. After opening higher at Rs 13.21 — a gain of 10 per cent, it gave up all these gains to hit an intra-day low of Rs 11.95. The share ended at Rs 12.30 — a rise of 2.41 per cent over the previous close.
