Vodafone on Wednesday said it will offload its entire 3.2 per cent shareholding in China Mobile, a divestment that will fetch the British telecom major about 4.3 billion pounds.
Bharti may look at gaining market share pre-merger and benefit from a lower capex intensity
The merged entity would lead with a revenue market share of about 37 per cent against Airtel's 31.2 per cent and Jio's 14.5 per cent
Announces 50% cut in prepaid monthly recharge.
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.
A shareholder of Vodafone Group has urged the company to abandon its plans to acquire India's Hutch Essar, saying the British telecom giant could overpay for the deal, British daily The Times reported on Friday.
Delaying GAAR is seen as a move partly designed to help solve Vodafone dispute.
Capital expenditure by Indian companies is likely to see an uptick in the upcoming quarters as capacity utilisation has surpassed the critical threshold of 75 per cent, and numerous companies have deleveraged their balance sheets, according to analysts. The first quarter of the current financial year has shown improved profitability, driven by a decrease in input prices. This, according to analysts at Care Ratings, should stimulate a revival in the private capex cycle.
Experts say the impact on the schemes' NAVs may vary in the coming days, depending upon how fund houses treat the developments on VIL and whether there are any further rating downgrades or credit events.
From its lows this month, the stock of Bharti Airtel is up 14 per cent. The gains for the telco have come on the back of expectations that market share consolidation, tariff hike and lower capex should boost margins and profits. While the company is a key player in the Indian market, it also has a leadership position in major markets of Africa.
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
Launched in March, it triggers re-verification of suspected fraudulent numbers. Failing re-verification, the number will be disconnected.
Idea Cellular will have to furnish an undertaking that it will entertain all the liabilities whenever a final decision is taken by the courts
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.
The two parties -- the Centre and Vodafone -- have sought a few more weeks to decide on the matter.
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".
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.
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.
Call drop problem to improve in 12-16 weeks in Delhi: Vodafone
The Department of Telecommunications (DoT) is in the process of issuing a show-cause notice to Vodafone Idea (Vi) for delaying the payment of licence fee. Companies pay 8 per cent of their adjusted gross revenue as licence fee. This also includes a universal service obligation levy. The fee is collected from each of the 22 telecom circles in the country on a quarterly basis.
Fair valuation of minority stake in joint venture at core of dispute; different worth of shares in two Essar entities a thorny issue.
Lok Sabha passes Finance Bill; Will introduce a white paper on black money in current session: FM
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
India's top three GSM mobile operators, Bharti, Vodafone and Idea Cellular have joined hands to set up an independent tower company, Indus Towers, that aims to share passive infrastructure with all telecom players to enable lower cost and a more competitive operative environment.
The move to sell the jewel in Vodafone's crown closes a heady expansionist chapter for one of Britain's most famous companies
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.
Bharti Airtel on Thursday submitted its bid for 3G spectrum, auction for which starts from April 9.
Vodafone offers to buy out Hutchison Telecom's stake in India's Hutch-Essar at an enterprise value of $17 to 18 billion reports British daily Financial Times.
Bharti Airtel will start talks for "disengagement" from its partner Vodafone once the UK company decides on its future course of action in India.
In the case, which will begin on Tuesday and last for five days, Indian tax authorities will argue that Vodafone, the UK-based mobile phone group headed by Arun Sarin, is liable for an estimated $2bn in taxes on its $11bn acquisition of local operator, Hutchison Essar, last year.
British telecom giant Vodafone's plans to acquire India's fourth-largest mobile operator Hutch-Essar has received mixed reactions from some of its key shareholders.
Numbers could be classified further into (140) marketing and (160 or 161) for service calls to easily identify the purpose of the call in the future.
The government, however, amended the tax laws with retrospective effect to undo the Supreme Court judgement and claim taxes.
The pound 29,350 billion Vodafone, the largest company in terms of revenue in the mobile space, is planning to move in a big way in rural areas of emerging markets such as India.
The Finance Ministry is of the opinion that Vodafone might drag its tax dispute to court.
The department had sent a notice to the company seeking details and clarifications on a host of issues besides the original agreement between Hutch and Vodafone to establish the jurisdiction of the tax authorities to determine the tax liability. This follow an SC order in January 2009 to the effect that Vodafone should present its case to the tax authorities first and submit a copy of the share purchase agreement, the deadline for which expires by the end of this month.
Setting an ambitious target of 100 million cellular subscribers, leading private GSM operator Vodafone-Essar today announced an investment of $6 billion (about Rs 24,000 crore) in the next three years.
The deal is designed to boost efficiency and further enhance customer service and aims to ensure scalable, flexible and resilient IT support for the fast-paced roll out of new network infrastructure to keep up with the rapid growth in Vodafone Essar's customer base.
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