'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.
The investment was committed to by Vittorio Colao, CEO of Vodafone Group Plc.
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.
Bharti may look at gaining market share pre-merger and benefit from a lower capex intensity
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.
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.
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
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.
Telecom Egypt, which already owns a 45 per cent in Vodafone Egypt, approached UK-based Vodafone about buying the remaining stake.
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.
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).
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.
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 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.
Analyst say the ruling is good news, especially from the global perspective.
This equity capital infusion is the country's largest-ever FDI.
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.
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.
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.
Idea Cellular will have to furnish an undertaking that it will entertain all the liabilities whenever a final decision is taken by the courts
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.
'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.
Maintaining that no tax liability arises from its $11 billion buyout deal with Hutchison in 2007, UK-based telecom major Vodafone today said it would continue to "vigorously" pursue the case in the Indian court.
Country accounts for 38% of telco's global user base, 10% of total revenue
No hybrid name, exercise to begin this week.
Incoming charges while roaming have been a hindrance to worry-free usage
Vodafone said on Wednesday it has completed the acquisition of controlling stake in Hutchisson-Essar Ltd while paying a less amount at $10.9 billion as against $11.8 billion announced earlier.
The government on Friday cleared British telecom firm Vodafone's application for buying a majority stake in India's fourth-largest mobile operator Hutch-Essar Ltd.
