Vodafone in India provides 2G and 3G services
As a prelude to a new partnership agreement, senior Vodafone and Essar executives have held joint meetings with officials in the government, including the finance ministry.
Essar will have to pay capital gains tax, as the company will be gaining from the deal.
The Income Tax deparment has sent a notice to Vodafone, seeking around $1.7 billion in capital gains tax related to the sale of Hutchison Telecom International Ltd's 67 per cent stake in Hutch-Essar, now renamed Vodafone-Essar.
The Department of Telecom (DoT) on Tuesday postponed the spectrum auction by 19 days to June 25, as per information available on its website. According to amendments made in the notice inviting applications for bids on Tuesday, the new date for "start of the live auction" has been changed to June 25 from June 6. The government will auction eight spectrum bands for mobile phone services at a base price of about Rs 96,317 crore.
Piramal owns an 11 per cent stake in Vodafone India.
The company has booked around 350 spots for the 2015 tournament.
Announces 50% cut in prepaid monthly recharge.
'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.
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).
Announces 50% cut in prepaid monthly recharge.
Global telecom major Vodafone's minority partner in India, Analjit Singh, may take over as the chairman of the group's Indian operations, after Essar group exits the venture.
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 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.
Agency reports said Hutchison Whampoa had received bid interest in its Indian mobile business, but that the prices indicated so far were too low.
The 64-year-old German, who has spent nearly four decades at Philips and around 10 years in the top position, will retire from the company on March 31 and will also be appointed as non-executive director at Vodafone on April 1.
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.
Ruias have rights to tag along with Hutch in any sale.
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.
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.
Dutch subsidiary Vodafone International Holdings BV on Tuesday severed a notice of dispute on the Indian government regarding proposals in the Finance Bill 2012 which it claimed violated the international legal protections granted Vodafone and other international investors in India.
Ambani to up ante by $3 bn on Ruia's hint at larger premium.
Vodafone had in December last year sought extension of its licence period for Delhi, Mumbai and Kolkata circles, which are coming up for renewal in November 2014.
The move to sell the jewel in Vodafone's crown closes a heady expansionist chapter for one of Britain's most famous companies
The department had initiated proceedings against Vodafone and TTSL in 2011 on the ground that the companies had allegedly failed to deduct tax deducted at source (TDS) for those assessment years.
The dispute over the tax payable for its purchase in 2007 of the 67 per cent stake in Hutch is on an amount of Rs 11,200 crore (Rs 112 billion).
Five months before the put option window closes, JP Morgan has come out with a report stating that Essar's stake in Vodafone Essar is around $2 billion, which is far less than what the shareholder agreement between the two companies in 2007 envisaged.
Piraml will sell of its entire 11 per cent stake in Vodafone india.
In a Diwali bonanza to its customers, Vodafone India on Thursday said it has slashed data rates by up to 80 per cent across the country, with effect from November 1.
Delaying GAAR is seen as a move partly designed to help solve Vodafone dispute.
In what could be the cheapest mobile handset and a market gimmick to increase its subscriber base, leading telecom service provider Vodafone on Wednesday unveiled a mobile handset priced at just Rs 799.
TDSAT had stated no amount was payable till resolution of the disputes.
British mobile operator Vodafone will end its seven-year title sponsorship of Formula One team McLaren at the end of 2013, the team said on Thursday.
British telecom major Vodafone on Friday said it had made an adjustment to the tune of Rs 3,400 crore in its fair market value to account for the payment it has made for 3G licences. This will be the additional amount payable to Essar, the 33 per cent shareholder in the company's Indian operations, if Essar opts for an independent valuation of its stake while exercising its put option.
Vodafone's focus is to increase consumer data adoption along with Micromax's product expertise, it said in a statement.
Tops the group in mobile voice usage volumes.
Call drop problem to improve in 12-16 weeks in Delhi: Vodafone
It also issued notice to the Centre and the IT department on Vodafone's plea.
