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.
Reliance Jio added 34.7 lakh mobile subscribers in September, cementing its lead in the competitive telecom market, while Airtel's wireless subscriber tally rose by 13.2 lakh, according to monthly data put out by Trai. Vodafone Idea lost 7.5 lakh mobile subscribers during September, dragging its wireless user tally to 22.75 crore. Reliance Jio gained 34.75 lakh wireless subscribers in September, and its user base climbed to 44.92 crore, as per data by Telecom Regulatory Authority of India (Trai).
The investment was committed to by Vittorio Colao, CEO of Vodafone Group Plc.
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 board of GSM service provider Vodafone-Essar is expected to discuss the income tax issue at its meeting to be held on Friday.
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
'Sell in May, go away' is a popular market adage. But 'Don't sell any new shares in May' is the best kept secret of Dalal Street that's set to break. Sample this: the last four General Election election cycles starting 2004 have not seen a single initial public offering (IPO) launch during the month of May.
Zain, which operates across West Asia and North Africa, provides mobile services to over 41.4 million customers and has commercial presence in eight countries.
Bombay High Court had earlier dismissed a petition filed by Vodafone and ruled that the tax office had jurisdiction to tax its 2007 deal.
On January 20, the court allowed Vodafone's appeal and had quashed the Bombay High Court verdict which had upheld the decision to levy tax on the overseas deal.
Debt-ridden Vodafone Idea is planning to begin 5G rollout in six months in select cities and places where 5G device concentration is high, a senior company official said on Friday. Vodafone Idea CEO Akshaya Moondra said the company expects capital expenditure of the company to be in the range of Rs 50,000-Rs 55,000 crore over the next three years with focus on expanding and strengthening 4G coverage.
Telecom Egypt, which already owns a 45 per cent in Vodafone Egypt, approached UK-based Vodafone about buying the remaining stake.
The Indian equity markets will soon account for over a fifth of a key emerging market (EM) benchmark tracked by funds with assets exceeding $500 billion. This development is expected to funnel as much as $3 billion into the domestic markets. Following the latest review undertaken by global index provider MSCI, India's weighting in the MSCI EM index will surpass 20 per cent for the first time, narrowing its gap with the current top-weighted China to fewer than 400 basis points.
Wooing overseas investors, government on Wednesday decided against challenging the Bombay High Court decision favouring Vodafone in the Rs 3,200 crore (Rs 32 billion) tax case and adopt a similar approach in transfer pricing litigations involving other MNCs like Shell.
The government has allocated spectrum to Vodafone in all 14 service areas, where the telecom major won in November 2012 auction for Rs 1,127.94 crore (Rs 11,27 billion).
Vodafone Group, the world's largest mobile operator by sales, is set to slash up to 500 jobs in the UK, says a media report.
Vodafone case: Questions still remain unanswered and the whole world is eyeing final outcome. The questions remaining unanswered by the high court would have several multinationals on tenterhooks, as the consequences, both for tax payers with similar transactions and perhaps for Indian M&A fortunes may be far reaching.
Debt-ridden telecom operator Vodafone Idea on Friday reported widening of its consolidated loss to Rs 7,230.9 crore for the third quarter ended December 2021. The company had posted a loss Rs 4,532.1 crore in the same period a year ago. Consolidated revenue from operations declined by 10.8 per cent to Rs 9,717.3 crore from Rs 10,894.1 crore in the year-ago period.
Vodafone is partnering social networking site Facebook to launch a 'Facebook' phone. This would give users one-click access to the site.
The first notice in the transaction relating to the sale of 67 per cent stake of Hutchison Essar Ltd was issued on March 15, 2007, under section 133(6) of the Income Tax Act.
Vodafone, which had earlier challenged the $2-billion tax demand by tax authorities, has now filed a revised draft with the Bombay High Court seeking to challenge the government's move to change tax laws. The petition will come up for hearing before the high court on June 23. The ministry had amended Section 201 of the I-T Act with retrospective effect from 2002. The amended law stipulates that the buyer of the shares of a company is liable to pay taxes in India.
Vodafone pleaded in High Court that IT department had no jurisdiction in the transfer pricing case because the said transaction was not international and did not attract tax.
The government's decision to opt for a non-binding attempt at conciliation and under Indian law in its tax dispute with telecom multinational Vodafone is understandable, note experts.
This equity capital infusion is the country's largest-ever FDI.
Analyst say the ruling is good news, especially from the global perspective.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The company also that final settlement is anticipated to be completed by November, 2011.
Vodafone brings back the 'ambassador pug' to advertise its customer care services. This is the third dog after Spikey and Chika being used for Vodafone and Hutch campaigns respectively. The pug brings a likeability factor to the brand irrespective of the fact whether you are a customer or not. Hutch had a positive brand image and to make sure that it continued the effective use of the dog was extremely pivotal for the transition. The pug is an integral part of communication.
Idea Cellular will have to furnish an undertaking that it will entertain all the liabilities whenever a final decision is taken by the courts
Says that the minister has a conflict of interest because his son has been a counsel for Vodafone.
Contrary to reports that world's largest mobile phone company Vodafone is planning to bid for South Africa's MTN, the UK-based firm has said it is not in the race to acquire the African mobile major. "Vodafone has ruled itself out of the running to acquire South African mobile phone group MTN, paving the way for Bharti Airtel of India to take a majority stake in the company."
British telecom giant Vodafone on Tuesday announced a 14.1 per cent jump in the group's revenues to 35.5 billion pounds with its India business delivering a strong growth of over 50 per cent during the year ended March 31.
Vodafone Essar seeks withdrawal of show cause notices, as according to the company no licenced condition has been breached.
Sibal's predecessor Ashwani Kumar had rejected FinMin's plea for conciliation terming it illegal.
Incoming charges while roaming have been a hindrance to worry-free usage
Country accounts for 38% of telco's global user base, 10% of total revenue
