Press Esc to close
Sunday 21 December 2014
News updated at 2:16 AM IST
Weather
Max: 28°C
Min : 17.6°C
In Bengaluru
Partially cloudy

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
Christmas tree ornaments are displayed for customers at the Christmas ...

Christmas tree ornaments are displayed for customers at the Christmas ...

A cyclist takes a ride along the bike path off Truxtun Extension...

A cyclist takes a ride along the bike path off Truxtun Extension...

A participant during the Kambala, a traditional buffalo race...

A participant during the Kambala, a traditional buffalo race...

A large gathering at Virat Hindu Sammelan, organised by VHP...

A large gathering at Virat Hindu Sammelan, organised by VHP...

India's Ishant Sharma, center, celebrates with his teammates after he got the wicket...

India's Ishant Sharma, center, celebrates with his teammates after he got the wicket...

India's Umesh Yadav plays a shot during their play on day four of the second cricket test...

India's Umesh Yadav plays a shot during their play on day four of the second cricket test...

Australia's David Warner dives over the boundary rope trying to take a catch during their ...

Australia's David Warner dives over the boundary rope trying to take a catch during their ...

Indian American Richard Verma sworn-in as US Ambassador to India

Indian American Richard Verma sworn-in as US Ambassador to India

People takes protection against cold with woollens...

People takes protection against cold with woollens...

helicopter following a crash during the men's World Cup Downhill skiing...

helicopter following a crash during the men's World Cup Downhill skiing...

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