After Finance Minister P Chidambaram's indication the tax department would not act rashly on the issue, the company on Thursday said it was ready to discuss a solution with the government.
Mobile services provider Vodafone Hutchison has announced offshoring a total of 450 call centre jobs from Melbourne to India and Tasmania.
'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.
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 two parties -- the Centre and Vodafone -- have sought a few more weeks to decide on the matter.
IBM, Nokia Oyj, Microsoft cases could now be resolved
The IPO is expected to bring handsome fees for the selected banks at a time when billion-dollar listings have become scarce
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.
Vodafone has to sell its entire stake in Airtel following new norms issued by government.
Vodafone, according to sources, in its response to the Finance Ministry's offer for conciliation, had expressed keenness to settle the long-pending capital gains tax dispute.
The company has already made payments for the spectrum according to rules.
The current termination charge is 10 paisa a minute.
The appointment is effective from February 16, 2012, following formal approval from the Board of Vodafone India.
The Foreign Investment Promotion Board (FIPB) on Monday deferred a decision on Vodafone's Rs 10,141 crore (Rs 101.41 billion) proposal to buy out minority shareholders in its Indian arm as the Ministry of Home Affairs is yet to give its comments.
The revenue department, sources said, will pursue the tax demand along with accrued interest and penalty.
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.
Vodafone India has doubled its mobile Internet rates for 2G and 3G customers across the country, and it is being implemented in a phased manner.
SC directs CBI to take action over extra spectrum allocation during NDA rule.
The company will spend Rs 10,141 crore to buy 15.5 per cent stake from minority investors.
Likely to seek FIPB approval to raise holding; deal could bring FDI of about $696 mn.
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.
The money will be used to build capacity.
Vittorio Colao, who is currently on an India visit, said he would be open to listing his company in the country
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 foreign investment regulator cleared a decision on Vodafone Group Plc's $1.6 billion plan to take full ownership of its local unit.
Company also called for clarity on jurisdiction and role of the TRAI and TDSAT.
Mobile services provider Vodafone on Tuesday said it has signed an agreement with software products major Apple to sell iPhone in India, besides nine other markets. iPhone is a mobile phone that allows its user to make calls by simply tapping a name or number in the address book. It lets the customer to select and listen to voice mail messages in whatever order the consumer wants.
Adjusted gross revenue of the industry has grown just 5.3 per cent during the financial year ended March 31
Vodafone wrote to the government proposing conciliation.
The telecom giant has asked FinMin for a settlement.
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.
Vodafone, which acquired controlling stake in India's Hutch Essar, will bring its brand to the subcontinent later this year, the company's chief executive officer Arun Sarin has said.
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.
The company says the reminder does not include a deadline for payment.
In a bid to break the stalemate on the Vodafone tax issue, the Cabinet on Tuesday approved a proposal for non-binding conciliation with the British telephone major, the outcome of which will have to be ultimately approved by Parliament.
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.
Last week, Essar had decided to prepay $900 million of this debt to foreign lenders.
The Finance Ministry is of the opinion that Vodafone might drag its tax dispute to court.
