Vodafone Idea share price jumps 8% on mega $3.6-billion deal with Nokia, Ericsson and Samsung

Vodafone Idea share price jumped over 8% in early trade on Monday after the company announced the conclusion of a $3.6 billion deal with Nokia, Ericsson and Samsung, for supply of network equipment over a period of three years. Vodafone Idea shares rose as much as 8.96% to ₹11.42 apiece on the BSE.

The deal marks the first step towards the rollout of the company’s transformative three-year capex plan of ~USD 6.6 billion (Rs. 550 billion). The capex programme is directed towards expanding the 4G population coverage from 1.03 billion to 1.2 billion, launching 5G in key markets and capacity expansion in line with data growth, Vodafone Idea said in a stock exchange filing on September 22.