Press Esc to close
Wednesday 04 March 2015
News updated at 4:01 AM IST
Weather
Max: 31.7°C
Min : 16.9°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
Ireland's George Dockrell is bowled for 25 runs by South Africa's Morne Morkel to end their Cricket

Ireland's George Dockrell is bowled for 25 runs by South Africa's Morne Morkel to end their Cricket

The debris is being cleared after landslides on Jammu-Srinagar Jammu National Highway

The debris is being cleared after landslides on Jammu-Srinagar Jammu National Highway

Artist staged a play Visa Nirikshaneyelliddaga at the inauguration of Dalita Natakotsava

Artist staged a play Visa Nirikshaneyelliddaga at the inauguration of Dalita Natakotsava

Badly damaged road in Bengaluru

Badly damaged road in Bengaluru

A Zimbabwe farm worker harvests tobacco at a farm ahead of the tobacco selling season starting on We

A Zimbabwe farm worker harvests tobacco at a farm ahead of the tobacco selling season starting on We

Snowfall in Kashmir

Snowfall in Kashmir

Britain's Queen Elizabeth and Mexico's President Enrique Pena Nieto ride a carriage as they leave Ho

Britain's Queen Elizabeth and Mexico's President Enrique Pena Nieto ride a carriage as they leave Ho

A model presents a creation by French designers Francois Alary and Ophelie Klere as part of their

A model presents a creation by French designers Francois Alary and Ophelie Klere as part of their

A general view of the 85th International Motor Show in Geneva

A general view of the 85th International Motor Show in Geneva

Kenya Wildlife Service rangers burn 15 tonnes of ivory confiscated from smugglers and poachers to ma

Kenya Wildlife Service rangers burn 15 tonnes of ivory confiscated from smugglers and poachers to ma

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523