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Vodafone moves to fully own India unit in $1.7 billion deal

2013-10-30 10:32:49| Telecom - Topix.net

Vodafone Group Plc has sought approval from the authorities to raise its stake in the India unit for 101.41 billion rupees it said on Tuesday, after India allowed foreign companies to take full ownership of local carriers.

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Vodafone to buy rest of Indian operation for INR 101 bln

2013-10-30 09:06:00| Telecompaper Headlines

(Telecompaper) Vodafone has asked the Indian government for permission to raise its stake in its local unit to 100 percent. Vodafone made the request to the Foreign Investment Promotion Board, Bloomberg reports. The price for the additional 15.5 percent stake in Vodafone India is about INR 101.4 billion (USD 1.65 billion), implying a total value for the India subsidiary of INR 654.2 billion. Vodafone already owns 64.4 percent directly and 20.1 percent through subsidiaries, while the remainder is held by Indian shareholders. India removed a cap on foreign stakes in the telecom industry in July. Once Vodafone gets full control, it will consider investing additional cash through share subscriptions, the company said.

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NZ Telecom, Vodafone pick up rights to 700 MHz 4G spectrum

2013-10-30 02:10:02| Telecom - Topix.net

Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography.

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Telecom, Vodafone, 2degrees buy 700 MHz spectrum

2013-10-30 01:09:00| Telecompaper Headlines

(Telecompaper) The first allocation round in New Zealand's 700 MHz spectrum auction has resulted in 2degrees, Telecom, and Vodafone each acquiring management rights to digital dividend spectrum at the reserve price. Telecom New Zealand and Vodafone New Zealand each successfully bid NZD 66 million (plus GST) for 2x15 MHz (three lots), while 2degrees successfully bid for 2x10 MHz (two lots) at a price of NZD 44 million (plus GST). This leaves one 2x5 MHz block unsold. The government expects to make a decision about the unsold spectrum in the coming weeks.

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Vodafone seeks full ownership of India unit

2013-10-29 01:00:00| Total Telecom industry news

Mobile operator seeks approval from Indian authorities for $1.65 billion deal.

Tags: full unit india ownership

 

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