IBM, Nokia Oyj, Microsoft cases could now be resolved
British telecom major Vodafone on Friday said it had made an adjustment to the tune of Rs 3,400 crore in its fair market value to account for the payment it has made for 3G licences. This will be the additional amount payable to Essar, the 33 per cent shareholder in the company's Indian operations, if Essar opts for an independent valuation of its stake while exercising its put option.
Vodafone has to sell its entire stake in Airtel following new norms issued by government.
Set to achieve a major milestone of playing his 100th Test this week, England wicketkeeper-batter Jonny Bairstow dedicated the achievement to his cancer-survivor mother who has been his driving force and kept the family together through the difficult times.
Mobile services provider Vodafone Hutchison has announced offshoring a total of 450 call centre jobs from Melbourne to India and Tasmania.
Tops the group in mobile voice usage volumes.
The Indian State's arbitrariness may have come to be accepted with resignation within the country, but when it behaves in the same manner with external players, it gets a push-back, observes T N Ninan.
Vodafone, according to sources, in its response to the Finance Ministry's offer for conciliation, had expressed keenness to settle the long-pending capital gains tax dispute.
Vodafone Group Plc Chief Executive Vittorio Colao today said the company could list its Indian arm and was open to acquisitions when opportunities are available in the country. The head of the world's largest mobile company in terms of revenues suggested changes in the regulatory regime for mergers and acquisitions.
The current termination charge is 10 paisa a minute.
The company has already made payments for the spectrum according to rules.
The Foreign Investment Promotion Board (FIPB) on Monday deferred a decision on Vodafone's Rs 10,141 crore (Rs 101.41 billion) proposal to buy out minority shareholders in its Indian arm as the Ministry of Home Affairs is yet to give its comments.
The appointment is effective from February 16, 2012, following formal approval from the Board of Vodafone India.
The revenue department, sources said, will pursue the tax demand along with accrued interest and penalty.
Vodafone India has doubled its mobile Internet rates for 2G and 3G customers across the country, and it is being implemented in a phased manner.
The company will spend Rs 10,141 crore to buy 15.5 per cent stake from minority investors.
The money will be used to build capacity.
The rumour verification process would now be triggered by changes in price or 'material price movements', as the paper defines it. What this means is that companies would need to verify rumours only if the share price moves significantly.
SC directs CBI to take action over extra spectrum allocation during NDA rule.
Likely to seek FIPB approval to raise holding; deal could bring FDI of about $696 mn.
Vittorio Colao, who is currently on an India visit, said he would be open to listing his company in the country
The foreign investment regulator cleared a decision on Vodafone Group Plc's $1.6 billion plan to take full ownership of its local unit.
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
The world's largest mobile operator by revenue, Vodafone, which operates in India with a joint venture with Essar Group, on Monday said it will invest more in India as it sees more opportunities in the country.
Ruias-led Essar Group on Friday launched a scathing attack on Vodafone saying that the British company is trying to gain 100 per cent control of the telecom JV Vodafone-Essar at an "artificially depressed value".
Vodafone wrote to the government proposing conciliation.
The telecom giant has asked FinMin for a settlement.
Company also called for clarity on jurisdiction and role of the TRAI and TDSAT.
Adjusted gross revenue of the industry has grown just 5.3 per cent during the financial year ended March 31
All the three companies, which dominate India's mobile services market with about 53 per cent share, have reduced the quantum of Internet download and/or validity periods on various packages they were offering, as per their websites.
The company says the reminder does not include a deadline for payment.
Mobile services provider Vodafone on Tuesday said it has signed an agreement with software products major Apple to sell iPhone in India, besides nine other markets. iPhone is a mobile phone that allows its user to make calls by simply tapping a name or number in the address book. It lets the customer to select and listen to voice mail messages in whatever order the consumer wants.
In a bid to break the stalemate on the Vodafone tax issue, the Cabinet on Tuesday approved a proposal for non-binding conciliation with the British telephone major, the outcome of which will have to be ultimately approved by Parliament.
The Finance Ministry is of the opinion that Vodafone might drag its tax dispute to court.
Vodafone, which acquired controlling stake in India's Hutch Essar, will bring its brand to the subcontinent later this year, the company's chief executive officer Arun Sarin has said.
Fair valuation of minority stake in joint venture at core of dispute; different worth of shares in two Essar entities a thorny issue.
Last week, Essar had decided to prepay $900 million of this debt to foreign lenders.
DoT has rejected the demand of Vodafone India for licence extension in three circles.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances