His comments come little over a week after Vodafone sold its entire 3.2 per cent shareholding in China Mobile Ltd for about 4.3 billion pounds.
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 Indian mobile market has been witnessing a rate war with the entry of new players
Bharti Airtel Chairman and Managing Director Sunil Bharti Mittal, Vodafone Plc CEO Vittorio Colao, Telenor CEO Jon Fredrik Baksaas and Idea Cellular Chairman Kumar Mangalam Birla on Wednesday met ministers and senior government officials to present the industry's concerns over telecom regulator Trai's proposals on the auction of spectrum.
The company has $2 billion tax dispute with the income tax department.
Ahead of a scheduled discussion in Parliament on the Finance Bill, 2012, for its clearance next week, top bosses of Vodafone Plc met senior functionaries of the government on Tuesday to discuss tax issues that have emerged due to the proposed retrospective amendments in the Income Tax Act, 1961.
Telecom honchos Sunil Bharti Mittal, Anil Ambani, Kumar Mangalam Birla and Vittorio Colao are expected to meet IT and Communications Minister Kapil Sibal tomorrow to discuss various issues impacting the sector.
During the visit organised by the UK India Business Council and UK Trade and Investment, 129 delegates, including business leaders Vittorio Colao, CEO, Vodafone; Lord Meghnad Desai, noted NRI economist; Terry Hill, chairman, Arup; Evelyn de Rothschild and Gerry Grimstone of Standard Life will visit New Delhi, Pune and Mumbai.
Vodafone's brass, including chief executive officer Vittorio Colao, told investors roaming policy was applicable to its 3G licences, in spite of claims that it was not.
Chiefs of leading telecom firms, including Sunil Mittal of Bharti Airtel, Anil Ambani of RCom and Vittorio Colao of Vodafone, met Telecom Minister Kapil Sibal on Wednesday and placed their views.
Telecom Egypt, which already owns a 45 per cent in Vodafone Egypt, approached UK-based Vodafone about buying the remaining stake.
Company is also facilitating this growth by playing an active role in reduction of prices of 3G-enabled smartphones.
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.
Earlier this week Vodafone CEO Vittorio Colao had said, 'one day we will discuss (Vodafone and Bharti Group) what to do with the stake. To have a discussion on any issue we need to have both the partners.' In 2005, Vodafone had bought a 10 per cent stake in Bharti Tele-Ventures Ltd (BTVL) for Rs 6,700 crore (Rs 67 billion).
Indian-origin telecom titan Arun Sarin, who is retiring as Vodafone CEO in July, is likely to venture into private equity business and may also join boards of large international companies as a non-executive director.
After their merger Vodafone Group CEO, Vittorio Colao says India is not a Jio market alone. Aditya Birla Group CEO, Kumar Mangalam Birla says Vodafone is dominant in metro cities, while Idea is a big player in urban, semi-urban markets.
To outgoing Vodafone CEO Vittorio Colao, negotiating big deals was an art form, as an international report pointed out after the $130-billion sale of Vodafone's 45 per cent stake in Verizon Wireless, says Nivedita Mookerji.
UK-based Vodafone Group has ruled out selling its around 5 per cent stake in the holding company of Bharti Airtel in the near future as there is no buyer.
Finance Minister P Chidambaram has asked UK-based Vodafone Group, which is facing a tax liability of over Rs 11,200 crore in India, to give its view on the long-pending matter in writing, a senior official said.
US-based technology major IBM is contesting a claim of the revenue department which has increased the company's taxable income substantially to around Rs 11,000 crore (Rs 110 billion).
The investment was committed to by Vittorio Colao, CEO of Vodafone Group Plc.
Kumar Mangalam Birla will be the non-executive chairman and Balesh Sharma the new CEO of the merged entity, which will remain listed.
The Supreme Court had ruled in Vodafone's favour in 2012.
The move to sell the jewel in Vodafone's crown closes a heady expansionist chapter for one of Britain's most famous companies
A new board has been constituted for the merged entity 'Vodafone Idea Ltd' with 12 directors (including six independent directors) and Kumar Mangalam Birla as its Chairman. The board has appointed Balesh Sharma as the CEO, the companies said in a joint statement. The combination will have an all-India revenue market share of 32.2 per cent and take the numero uno slot in nine telecom circles, it said adding that both Vodafone and Idea brands will continue.
With the new entity coming in force, Bharti Airtel will lose the tag of India's biggest telecom service provider to the new entity.
"If we are not getting anything then I think it is end of story for Vodafone Idea," Kumar Mangalam Birla said at the HT Leadership Summit when asked about the future of Vodafone Idea in absence of a government relief on payment of Rs 53,038 crore dues.
Facebook has launched an 'internet.Org' initiative
Vodafone Idea, the promoter of Aditya Bira Idea Payments Bank, said in a notification to the exchanges late on Friday that the board of the bank approved winding up the business, subject to approval from the Reserve Bank of India.
The merger will result in substantial cost and capex synergies with an estimated net present value of around USD 10 billion after integration costs and spectrum liberalisation payments, with estimated savings of USD 2.1 billion annually from the fourth year of the merger.
With their net debt estimated at Rs 1.15 trillion, the merged entity will not be in much of a position to dole out freebies, says Romita Majumdar.
A Vodafone Group insider with more than 25 years in the telco across geographies, he's like the eyes and ears of the multinational in India.
Every service provider, say analysts, now needs to make a much larger investment, and therefore needs a much larger share of the market to be profitable.
The onus of the tax dues of Rs 22,100 crore on Vodafone India's British parent could also fall on the merged entity.
Vittorio Colao, who is currently on an India visit, said he would be open to listing his company in the country
Performance is considered a major reason why Ravi Shankar Prasad might have had to leave telecom.
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
Country accounts for 38% of telco's global user base, 10% of total revenue
While UltraTech Cement has been the biggest value creator adding nearly Rs 99,000 crore to its market capitalisation, Grasim Industries has added around Rs 27,000 crore to its market cap.
'The government is unwilling or unable to provide the kind of relief that Vodafone India is asking for.'
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