Mobile operators Vodafone India and Bharti Airtel on Wednesday expressed disapproval over the Interconnect Usage Charge (IUC) revised by the Telecom Regulatory Authority of India (TRAI) and said the decision would impact the industry grossly, especially when it is under financial stress. Bharti Airtel and Vodafone Group Plc’s India unit, the market’s second-biggest carrier, said they were disappointed by the fee cut. The Cellular Operators Association of India, which counts Bharti, Vodafone and Idea among its members, said carriers would take a severe hit from the reduction to interconnect fees. Shares in Bharti Airtel fell as much as 6%, while third-ranked Idea Cellular shed up to 7%. Reliance Industries, the parent of Jio, rose 4% in intraday trade versus the wider Mumbai market that was up a slight 0.1%.

Source: Hindustan Times September 20, 2017 05:26 UTC