Press Esc to close
Friday 24 February 2017
News updated at 12:22 AM IST
Weather
Max: 35.2°C
Min : 19.2°C
In Bengaluru
clear sky

Vodafone keen to fully own India arm

New Delhi, Oct 29, 2013, (DHNS)
PTI file image
The Vodafone Group has become the first telecom company to evince interest to wholly own its Indian unit after the government in July removed the 74 per cent limit on investment by foreign entities in Indian telecom service providers.

London-based Vodafone Group Plc has filed an application with the Foreign Investment Promotion Board to increase its stake in Indian subsidiary Vodafone India Ltd to 100 per cent from 64.38 per cent at an investment of Rs 10,141 crore.

"We have always said we would like to increase our holding and this further investment demonstrates Vodafone's long-term commitment to India," the company said.

Apart from Vodafone Group, Piramal Healthcare Ltd holds 11 per cent stake, Vodafone India Chairman Analjit Singh 6.2 per cent and about 18 per cent stake is held by independent investors.

The company also plans to provide additional funding to its Indian unit by subscribing to equity shares.

Vodafone Group had plans to list its Indian unit on the exchanges but has refrained from doing so citing unfavourable market conditions and lack of regulatory clarity.

 

Go to Top

Photo Gallery
A boy carrying his grand father for casting during the 4th phase of assembly elections...

A boy carrying his grand father for casting during the 4th phase of assembly elections...

NSUI activists participating in peace unity march at Delhi University in New Delhi...

NSUI activists participating in peace unity march at Delhi University in New Delhi...

A man dressed as Hindu Lord Shiva performs during a religious procession ahead of the Hindu...

A man dressed as Hindu Lord Shiva performs during a religious procession ahead of the Hindu...

An elderly woman with her goat at the parched bed of a pond in a village in Hubli district...

An elderly woman with her goat at the parched bed of a pond in a village in Hubli district...

An airplane carrying rejected asylum-seekers taxis to the take-off runway at the airport...

An airplane carrying rejected asylum-seekers taxis to the take-off runway at the airport...

Artist K P Satish Babu and team presentation a Doll Dance at the Nirantharam National Music...

Artist K P Satish Babu and team presentation a Doll Dance at the Nirantharam National Music...

Fake notes of Rs 2000 which were dispensed by an SBI ATM in south Delhi...

Fake notes of Rs 2000 which were dispensed by an SBI ATM in south Delhi...

Chief Minister of Gujarat Vijay Rupani gives envelop to a newly married couple of Brahmin Community.

Chief Minister of Gujarat Vijay Rupani gives envelop to a newly married couple of Brahmin Community.

Tigers playing with each other in cage at Sarthana National Park (Surat) in Surat...

Tigers playing with each other in cage at Sarthana National Park (Surat) in Surat...

Akshar Yoga chain members performs stunts during the awareness programme on self defense ...

Akshar Yoga chain members performs stunts during the awareness programme on self defense ...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523