Opening another line of inquiry into the Hutch-Essar shareholding structure, the Foreign Investment Promotion Board (FIPB) is looking into the call options that would together give Vodafone a further 15.03 per cent proportionate indirect equity owner
UK-based Vodafone is not the only one awaiting the Indian government's call on its purchase of stake in Hutch-Essar, US coffee retail giant Starbucks is also anxiously looking for a decision on the issue.
Bharti Airtel on Tuesday welcomed the decision of the directors of Vodafone to abstain from its board meeting, in view of the UK-based telecom major's interest in acquiring rival Hutch-Essar.
Britain's Vodafone, which acquired controlling stake in mobile firm Hutch-Essar, on Tuesday said it will transfer its 5.6 per cent stake in Bharti Airtel back to the Indian mobile leader by November next year.
Hong Kong-based Hutchison Telecom Limited is expected to submit details of loans to two Indian minority shareholders this week to the finance ministry, which is looking into alleged breach of foreign direct investment norms in Hutch-Essar.
Telecom Watchdog, a Delhi-based NGO, has alleged that IDFC misused funds from the India Development Fund to fund transactions in Hutch Essar Ltd.
'He asserted in his usual jovial style that he was not an MBA like his audience at IIM-Ahmedabad but perhaps had an even better business degree: MBB'. 'He went on to explain to his perplexed, blue chip B-School audience that MBB stood for "Marwadi by birth"!' Shivanand Kanavi salutes Shashi Ruia, co-founder of the Essar group who passed into the ages on November 25, 2024 in Mumbai.
Vodafone CEO Arun Sarin on Thursday met key members of the Ruia family, as part of efforts to woo the Essar Group to ensure smooth sailing of mobile venture Hutch-Essar, where the UK company is acquiring majority stake.
Ahead of Thursday's Foreign Investment Promotion Council meeting that would take up sale of stake in Hutch-Essar to Vodafone, the UK company's director Mathew Kirk met telecom secretary Dinesh Mathur on Wednesday.
With the completion of the acquisition of Hutch Essar earlier this month, British mobile major Vodafone is chalking out strategies to relaunch the rechristened 'Vodafone Essar' brand in India.
A day after Vodafone announced its $11.1 billion acquisition of Hutchison's equity holding in Hutch-Essar, India's fourth largest mobile service provider, it received an unsolicited advice from the Egyptian CEO of Orascom, Naguib Sawiris.
As Vodafone started examining the books of Hutchison Essar, its existing partner Bharti Airtel on Tuesday said it has not been approached by anyone to buyout British telecom firm's stake in the company.
This delay was a result of controversies over a 15 per cent holding by Hutchison-Essar Managing Director Asim Ghosh, healthcare major Max's Analjit Singh and financial institution IDFC.
Both the smartphones from Research in Motion have in-built GPS, which would allow users to know their exact location and provide support for a wide range of location-based applications and services such as Google Map.
Arun Sarin is the chief executive officer of Vodafone Group Plc, the United Kingdom-based global mobile operator.
Hutchinson Max Telecom Pvt Ltd on Thursday launched Mobile Hutch Shops in India, a customer service and information unit on wheels, which the company expects would supplement its existing retail and customer care centres in the country.
The Department of Telecommunications has received 21 bids from telecom operators and infrastructure service providers for the Rs 2,395 crore (Rs 23.95 billion) rural telephony project.
Vodafone has rejected a restructuring call by an activist investor lobby that would have unlocked up to $75 billion to shareholders, saying such business strategies could have prevented it from recent acquisitions such as Hutch-Essar in India.
Vodafone appointed to its board on Thursday a former group managing director at HTIL's parent company Hutchison Whampoa.
High-end mobile device Blackberry, which was till now available only with the GSM operators, will be soon launched on CDMA platform by Reliance Communications.
Undeterred by the controversy surrounding its acquisition of Hutch-Essar, Vodafone asserted on Monday it was fully compliant with the foreign direct investment regulations as it had 'only stepped into the shoes of Hutchison Telecom.'
Russian billionaire Mikhail Fridman's mobile firm Altimo, which had recently evinced interest in Hutch-Essar, today said it was still looking for potential acquisition opportunities in India.
Egyptian telecom firm Orascom's CEO Naguib Sawiris has resigned from the board of Hong Kong-based Hutchison Telecom, days before its shareholders are scheduled to consider the sale of its stake in Indian mobile venture Hutch-Essar to Vodafone.
Officials say telco still keen on process.
The Anil Dhirubhai Ambani Group company Reliance Communications, which is in the process of bidding for Hutch-Essar, is planning to list its undersea cable business unit Flag Telecom in London to raise over $500 million.
Vodafone CEO Arun Sarin on Wednesday discussions with Commerce Minister Kamal Nath, who asked the UK telecom giant to follow best commercial practices in its bid to acquire Hutch-Essar.
Ahead of his scheduled meeting with Vodafone CEO Arun Sarin, who is bidding for Hutch-Essar, Communications Minister Dayanidhi Maran on Wednesday said the government wanted good companies to enter the country.
Reliance Communications, which is eyeing to acquire the country's fourth-largest mobile firm Hutch Essar, said on Wednesday it plans to raise funds through issue of securities in the international market.
Amid a government scrutiny into the alleged breach of FDI norms by Hutchison Telecom International, the Hong Kong-based firm on Monday asserted its Indian mobile venture Hutch Essar Ltd (HEL) did not violate any regulations.
Non-availability of minimum facilities is the sacrifice the rural poor are being forced to make in pursuit of the Left's ideology.
UK telecom giant Vodafone has offloaded its 5.6 per cent direct stake in India's mobile leader Bharti Airtel to promoter Sunil Mittal's group for $1.6 billion, coinciding its acquisition of controlling stake in Hutch-Essar.
Amid reports of security concerns over Egypt's Orascom acquiring indirect stake in Hutch-Essar, Pakistan telecom regulator Shahzada Alam Malik wondered on Friday how a mobile operator working in his country could be a threat to India.
The total subscriber base crosses 115 million mark.
Cellular service provider Hutch will spend Rs 200 crore (Rs 2 billion) on network expansion in Rajasthan this year.
Sterling Infotech Group and Hutchison Essar Group have terminated the agreement, which contemplated acquisition of Sterling's Aircel and Aircel Cellular by Aircel Digilink India, a part of the Hutch Group.
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