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Vodafone reaches agreement with Vi on CLAM
Vodafone Group Plc has reached an agreement with Vodafone Idea Limited (Vi) to fully settle the Contingent Liability Adjustment Mechanism (CLAM) and outstanding service charges, closing all material open issues between the two entities. The settlement involves a cash payment of €219 million from Vodafone Group, which is offset by Vi settling €219 million of outstanding service charges, resulting in no net cash payment for Vodafone. Additionally, Vodafone Group will set aside 3,280 million of its Vi shares, representing a 3.03% stake, for Vi's benefit, with Vi having the right to instruct Vodafone to sell these shares. Both the service charges and the investment in Vi shares are currently carried at nil value on Vodafone's balance sheet. Disclaimer*
About this update from Vodafone Group Public Limited Company
[{"type":"text","content":"\n\n31 DECEMBER 2025 | LONDON, UK\nVodafone reaches agreement with Vi on CLAM\n\n \n\nVodafone Group Plc (\"Vodafone\") announces that it has reached an agreement with Vodafone Idea Limited (\"Vi\") in relation to the final amount payable under the Contingent Liability Adjustment Mechanism (\"CLAM\"), which is due to expire on 31 December 2025, as well as an agreement for Vi to settle outstanding Vodafone Group service charges. This closes all material open issues between Vodafone and Vi.\nThe CLAM was entered into at the time of the 2017 merger agreement between Vodafone India and Idea Cellular and covers pre-merger contingent liabilities in relation to legal, regulatory, tax and other matters of the two merging parties. Under the CLAM, Vodafone's maximum exposure was capped at INR 83.69 billion (€793 million) at the time of the merger and taking into account payments already made, the reduced exposure was capped at INR 63.94 billion (€606 million). \nAs a result of this agreement:\n· Vodafone Group will fully settle the CLAM through: (i) a cash payment of €219 million and (ii) setting aside 3,280 million of Vodafone Group's shares in Vi for Vi's benefit. Vi will have the right to instruct Vodafone to sell these shares, in one or more tranches, with any cash proceeds being transferred to Vi.\n· This final settlement does not constitute any net cash payment by Vodafone as Vi will settle €219 million of outstanding Vodafone Group service charges.\nBoth the outstanding Vodafone Group service charges and Vodafone's investment in Vi shares are carried at nil value in the Vodafone balance sheet.\n· Vodafone Group currently has a 16.07% shareholding in Vi and the shares being set aside are equivalent to a 3.03% shareholding in Vi.\n \n<ENDS>\n\nContact details\n\n\n\n\nMedia Relations:\nVodafone.com/media/contact\[email protected]\n \n\n\nInvestor Relations:\ninvestors.vodafone.com\[email protected]\n \n\n\n \n\n\n\n\nAbout Vodafone Group everyone.connected\nVodafone is a leading European and African telecoms company.\nWe serve over 360 million mobile and broadband customers, operating networks in 15 countries with investments in a further five and partners in over 40 more. We have capacity on more than 70 subsea cable systems - the backb...