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In the process, Vodafone India's valuation rose 48.39 per cent since February 2012, when Piramal Enterprises bought 5.5 per cent stake in Vodafone India for Rs 3,007 crore (Rs 30.07 billion).
With Airtel and RCom already having launched their special offers for post-paid customers, and RJio around the corner, Vodafone makes its move with Red.
A court ruled in favour of Vodafone on Friday in a long-running dispute with the Indian taxman, a boost for the British telecom group whose tax battles have been seen as emblematic of the troubles facing foreign investors in India.
Vodafone had however sought Rs 4,759.07 crore in tax refund from for AYs - 2014-15, 2015-16, 2016-17 and 2017-18.
The auction of radio waves used for mobile services saw a muted opening on Tuesday, with five rounds attracting bids worth about Rs 11,000 crore from telecom companies. The government has put over 10,500 Mhz spectrum in eight frequency bands -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction.
The fee pocketed by investment banks for handling equity share sales stood at $244 million during the first half of calendar year 2024. This was the highest first half figure since 2007, according to LSEG Data & Analytics, a provider of financial markets data. Capital mobilised via equity capital market (ECM) activity jumped 2.5 times to $29.5 billion - the highest-ever semi-annual total in terms of proceeds.
The company added 95 lakh new 4G subscribers taking its total 4G subscriber base to 7.53 crore inching closer to its peer Bharti Airtel which reported 4G customer base of 7.7 crore.
Vodafone India in association with BIG Cinemas has launched a unique initiative to make its customers feel special. From August 12 to August 26, 2012, any Vodafone customer, who goes to see a movie in BIG Cinemas at Ahmedabad, Rajkot, Jamnagar, Palanpur , Patan and Vapi, will get a Birthday surprise that will be a true delight!
Vodafone Idea and Airtel have made provisions for their liabilities arising from the Supreme Court order in their latest September quarter results.
A bench headed by Justice Arun Mishra declined to accept the proposal given by senior advocate Mukul Rohatgi, appearing for Vodafone, after he mentioned the matter. Rohatgi said they are willing to pay Rs 2,500 crore today (Monday) and another Rs 1,000 crore by Friday but no coercive action be taken against the company. He urged the bank guarantee deposited with the government by Vodafone should also not be encashed.
The letter was written on February 20, two weeks after the Cabinet Committee of Economic Affairs had approved the 100 per cent ownership proposal of Vodafone Plc in Vodafone India, at a proposed investment of Rs 10,141 crore (Rs 101.41 billion).
Officials say telco still keen on process.
The UK group bought a 52 per cent stake in the Indian company in May, which is now called Vodafone Essar. Mumbai-based Essar Group owns 33 per cent, with Asim Ghosh, Vodafone Essar managing director, and Indian businessman Analjit Singh owning the remaining 15 per cent.
British telecom giant Vodafone on Friday said it is considering acquiring a controlling stake in India's fourth-largest mobile player Hutchison Essar.
Vodafone Idea board on Tuesday approved a fund-raise of up to Rs 20,000 crore through a combination of equity and equity-linked instruments, the crisis-ridden telco said, adding promoters will also participate in the proposed equity raise. Overall, Vodafone Idea plans to raise around Rs 45,000 crore through a mix of equity and debt, the company said. The company has been fighting a desperate battle for survival -- it has a debt of Rs 2.1 lakh crore and is reporting quarterly losses, amid massive subscriber churn.
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.'
Top representatives of British telecom giant Vodafone are understood to have met senior officials of department of telecom in New Delhi, presumably to discuss issues related to its interest in acquiring Hutch Essar.
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.
Vodafone is facing tax liability over its $11 billion acquisition of a 67 per cent stake in the mobile-phone business owned by Hutchison Whampoa in 2007.
In 2013-14, India became the third-largest contributor to Vodafone Group's service revenue and operating free cash flow.
With data as an extra product added to its offerings, rural operations have become more viable for the operator.
Singapore Telecom is believed to have sought the removal of Vodafone representatives from the board of Bharti Airtel, following the British telecom major's bid to acquire a majority stake in Hutchison Essar.
Stung by criticism that some big operators were allegedly hoarding spectrum, a leading telecom firm Vodafone on Monday said it was "ridiculous" to imply the incumbent players were resorting to such a measure.
The clarification comes a day after Vodafone signed a shareholders' agreement with the Essar group.
I-T department has fixed Rs 12,000-crore tax claim on the 2007 deal in which Vodafone bought Hutch's 67 per cent stake in Hutchison Essar for $11.2 billion.
The launch of VF 247 solar powered phone is in keeping with Vodafone's aim to increase mobile technology accessibility for millions in India.
In India, there are 22 services area, or circles, for 2G telecom services and both the companies operate in all the circles.
A company spokesperson said Vodafone has received a copy of the report submitted to the DoT and said the company's accounts are in line with statutory standards set by telecom tribunal Telecom Disputes Settlement And Appellate Tribunal.
Vodafone India launched the 'World of Difference' (WOD) programme, a flagship initiative run by the Vodafone Foundation, for the second time in India.
Bharti Airtel and Vodafone Idea will roll out revised mobile service tariffs increasing rates in the range of 10-24 per cent from the first week of July. Bharti Airtel announced a 10-21 per cent hike in prepaid and postpaid mobile tariffs from July 3, a day after larger rival Reliance Jio announced an increase in rates. Later in the day, loss-making telecom operator Vodafone Idea (Vi) also announced its plan to raise mobile tariffs by 11-24 per cent from July 4.
It said that fixing reserve price of 800 MHz band at low levels benefits a certain set of operators.
UK-based Vodafone Group on Friday said its Indian unit Vodafone India reported a growth of nearly 9 per cent in revenue to 1.03 billion pounds during the first quarter ended June 30, 2011, driven by an increase in its customer base.
With Vodafone's Mobile Internet, you can stay connected anywhere on the go, with an array of Vodafone 2G and 3G mobile internet plans.
Vodafone had contended in its plea that DoT instead of signing and executing the ULs had at the last moment informed them that their request for deletion of 'restrictive' clauses in licence pertaining to roaming cannot be accepted.
The companies are being probed into for alleged corruption in spectrum allocation during NDA regime.
The government, however, amended the tax laws with retrospective effect to undo the Supreme Court judgement and claim taxes.
The board of GSM service provider Vodafone-Essar is expected to discuss the income tax issue at its meeting to be held on Friday.
Essar wants reverse merger of Essar Telecom Holdings Ltd into its listed group firm, India Securities Ltd.
The British mobile phone operator was widely expected to go for an international arbitration after its talks with the Indian government failed to find a solution last year.
The investment was committed to by Vittorio Colao, CEO of Vodafone Group Plc.
