Vodafone to sell stake in India operations - report

Wednesday 20 July 2011 | 13:04 CET | News
After buying out its Indian partner Essar, Vodafone is looking for new investors in its Indian mobile unit, reports The Economic Times. Vodafone has initiated talks with at least two private equity companies to sell a stake in its India operations, said a person involved in the discussions. He declined to name the prospective buyers. Earlier this month, Vodafone and Essar exercised options to transfer all of Essar's 33 percent in the India's third-largest mobile operator by subscribers to Vodafone for USD 5.46 billion. At the end of that transaction, Vodafone will cross the limit on foreign

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: Mobile & Wireless
Companies: Vodafone Essar
Countries: India
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Indian govt approves bigger stake for Vodafone

Published 20 Sep 2011 14:30 CET | India
Vodafone's plan to buy another 5.48 percent stake in the joint venture Vodafone Essar has been approved by the Indian government, ...

Vodafone pays tax on Essar buy-out

Published 13 Sep 2011 14:15 CET | India
Vodafone, which is currently disputing a USD 2 billion tax demand on its 2007 acquisition of Hutch-Essar, has paid INR 39 billion ...

Piramal to buy 5.5% stake in Vodafone Essar for USD 640 mln

Published 11 Aug 2011 10:10 CET | India
Drugmaker Piramal Healthcare has agreed to purchase approximately 5.5 percent of Indian mobile operator Vodafone Essar from Essar ...

Telco takeovers difficult to predict, but cooperation still important strategy

Published 03 Aug 2011 11:38 CET | Europe
France Telecom announced its intention to sell activities in Switzerland, Austria and Portugal. These include Orange Switzerland ...

India ends June with 598.8 mln GSM subscribers

Published 18 Jul 2011 08:37 CET | India
India ended June with 598.8 million GSM customers as operators jointly added 8.6 million new subscribers in the month, according ...

Vodafone, Airtel, Idea sign 3G roaming pact

Published 14 Jul 2011 11:43 CET | India
Vodafone Essar announced agreements for nationwide 3G roaming with rivals Bharti Airtel and Idea Cellular, Dow Jones reports. ...

Vodafone increases price for Essar stake

Published 04 Jul 2011 08:59 CET | India
Vodafone Group announced a new agreement with its Indian partner Essar to buy out its stake in the mobile operator Vodafone ...

Vodafone warns Indian tax bill could double

Published 30 Jun 2011 15:18 CET | India
Vodafone has warned it faces a doubling of the USD 2.5 billion tax bill it is contesting in the India Supreme Court. CFO Andy ...