Cash-strapped Vodafone Idea to shutdown 3G; to close fundraising soon

India’s Vodafone Idea is planning to shut down its 3G services completely by FY22 to become a 4G-focused telecom operator in a bid to drive revenues. A top executive also revealed that it will “soon” close fundraising with potential investors who are “very positive”. This comes at a time when the struggling telecom operator managed to limit customer losses in the December quarter to 2 million from 8.1 million in the previous one with the help of improving 4G services and a revival in the usage of multiple SIMs.

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