Private telcos, including Bharti Airtel, Vodafone and Idea, understated revenues to the extent of Rs 61,064.5 crore during 2010-11 and 2014-15, leading to a "short payment" of Rs 7,697.6 crore to the government, the CAG said as per the PTI report. The Comptroller and Auditor General (CAG), in its latest report tabled in Parliament today, said its audit indicated "total understate
LONDON - Vodafone , the world's second largest mobile operator, reported better-than-expected 2.2 percent revenue growth in its first quarter, reflecting a robust performance in Italy and Spain and an acceleration in demand in Turkey.
The company said the rise in organic service revenue, which was ahead of market forecasts of 1.4 to 1.9 percent, gave it confidence
Vodafone India on Wednesday announced its partnership with Finnish technology company HMD Global for their newly launched Nokia-Android smartphones.
All Nokia smartphone users can avail the offer of additional 4G or 3G Data, the company said in a statement.
"We are delighted to partner with HMD Global to roll out this exciting offer that enables our customers to get the
By Paul Sandle
LONDON Britain's Vodafone forecast a jump in cash generation this year, allowing it to reward shareholders with a higher dividend as it eases back on network investment and moves to solve problems in India where a new price war has broken out.
The company's upbeat outlook sent its shares more than 4 percent higher, relieving inve
Vodafone launched a new international roaming pack offering unlimited roaming for travellers to the US, the UAE and Singapore, reported PTI.
Customers who opt for this pack will not be charged additionally for calls and data while roaming in these countries, the second largest telco said in a statement.
There is no cap on the number of calls or amount of high speed data that
Vodafone India has launched an unlimited international roaming proposition for travellers to the US, UAE and Singapore in its international roaming pack, Vodafone i-RoamFREE, where customers opting for this pack will not be charged a single additional rupee for calls and data while roaming in these three countries, the company announced on Monday.
This pack is available at price point
Newcomer in the telecom sector, Reliance Jio recorded highest download speed compared with its other competitors like Bharti Airtel, Vodafone India and Idea Cellular, a data released by the telecom regulator showed here.
According to the monthly average mobile speed data revealed by the Telecom Regulatory Authority of India (TRAI) for February, Jio's 4G average download speed was
By Sumeet Chatterjee and Devidutta Tripathy
HONG KONG/MUMBAI - Investment banking business in India should be enjoying bumper fees after a record year of dealmaking. It's not, and big banks blame in-house teams of advisers that have proliferated as the country's top family-owned conglomerates tighten their grip.
This week's $23 billion tie-up bet
After announcing the largest merger in the Indian telecom space, Kumar Mangalam Birla, Chairman of the Aditya Birla Group that owns Idea Cellular, and Vodafone Group Plc CEO Vittorio Colao on Tuesday met Communications Minister Manoj Sinha here.
According to sources, Birla and Colao sought the government's advice regarding smoothening of the merger process.
Below is the views on 'Vodafone - Idea merger' by Mr Gautam Duggad, Head- Research, Motilal Oswal Securities Limited
Deal contours – 1:1 Swap ratio
Vodafone will get 50% in the merged entity, implying 1:1 share swap. In the merged entity, Vodafone will get INR 552b
Integrating operations of Vodafone and Idea will cost the combined entity around Rs 13,400 crore, a top official of the Aditya Birla Group company said as per the PTI report. "The integration cost accounted in the net synergy is estimated to be nearly Rs 13,400 crore from the completion until the first full year of operations," Idea managing director Himanshu Kapania told analysts.
Cellular body COAI has termed the merger of Idea Cellular and Vodafone India as a "bold" move and said the combined stronger entity will be beneficial to both government and consumers of the Indian telecom market, reported PTI. Stating that the merger will be "good" not only from an organisational perspective, but from the point of view of consumers and the government, COAI
In one of the biggest mergers in the telecom space, Vodafone India and Aditya Birla Group-promoted Idea Cellular on Monday announced their much-awaited amalgamation.
Kumar Mangalam Birla, Chairman of the Aditya Birla Group, will also be the Chairman of the merged entity.
Idea Cellular in a regulatory filing on Monday said its Board of Directors "has approved the scheme
Shares of Idea Cellular, declined over 9 per cent in early trade on the Bombay Stock Exchange after the company said its board has approved the scheme of amalgamation of Vodafone India and its wholly owned subsidiary Vodafone Mobile Services with the company. At present, Vodafone India is the country’s second largest operator by users and Idea Cellular the third largest operator. Vodafone
By Devidutta Tripathy and Sankalp Phartiyal
MUMBAI - Britain's Vodafone Group and Idea Cellular agreed on Monday to merge their Indian operations in a $23 billion deal, creating the country's biggest telecoms business after the entry of a new rival sparked a brutal price war.
The combined entity would have almost 400 million customers, overtaking mar
By Sophie Sassard and Paul Sandle
LONDON - British mobile operator Vodafone risks being left on the sidelines as rivals converge to break free from just selling ever-cheaper data bundles and become internet companies offering combined services from phones to TV to broadband.
Vodafone expanded at breakneck speed through audacious takeovers and now has n
Aiming to bring more locally-produced series and films to its Indian viewers, global internet TV network Netflix on Monday announced strategic partnerships with Airtel, Videocon d2h and Vodafone. The move is to offer Netflix services over the top (OTT) through these companies' direct-to-home and mobile platforms.
"India is more movie-centric and among the top three markets in
MUMBAI - Japan's SoftBank Group on Thursday denied it was in talks with Vodafone Plc's Indian unit and Idea Cellular to pick up a stake in a potential merger between the two Indian wireless carriers.
SoftBank's denial follows a report in The Economic Times newspaper that the Japanese firm was looking to pick up a stake in a Vodafone-Idea merged compan
By Charlotte Greenfield
WELLINGTON - Sky Network Television could walk away from its bid to buy Vodafone's New Zealand unit after the competition regulator on Thursday rejected the proposal citing monopoly concerns, Chief Executive John Fellet said.
But Fellet also said Sky was considering an appeal in the High Court and would wait until receiving the re
HONG KONG/MUMBAI - BofA Merrill Lynch, UBS and Standard Chartered are among banks scrambling to win advisory roles in a potential merger involving Vodafone in India, sources said, as they chase a rare big deals-related payday in the country.
Britain's Vodafone Group said last month it was in talks to merge its Indian subsidiary with Idea Cellular
Riding on around 50 per cent market share in Goa, Vodafone India Limited announced the rolling out of 4G in the coastal state which is expected to boost the sales of the company, reported PTI. "With around 8.5 lakh connections in Goa we have touched almost 97 per cent of the population in the State," Ashish Chandra, Business Head (Maharashtra and Goa Circle) of Vodafone India Limited
The proposed merger of Vodafone India and Idea Cellular will be credit positive for the telecom industry by eliminating duplication of spectrum and infrastructure capex, says India Ratings and Research (India Ratings). However in the near term, India Ratings believes that the intense competition from Reliance Jio’s freebees will continue to pressurise telecom companies (telcos) financials
A planned merger between Vodafone Group Indian subsidiary and Idea Cellular should help them withstand intense price competition in the Indian telco market, but is unlikely to lead to increased pricing power for operators in the short term, says Fitch Ratings. We retain our negative outlook on the sector, as fierce competition and rising capex will put pressure on most operators in 2017, said t
By Paul Sandle
LONDON - Cut-throat competition in India and an onslaught from rivals in its home market prompted Britain's Vodafone to nudge its full-year earnings guidance down on Thursday sending its share price lower.
Competition in India has been ramped up by free offers from new entrant Reliance Jio Infocomm, but Vodafone plans to fight back by
Vodafone Confirms It Is in Discussions to Merge Its Indian Operation With Idea; Shares Undervalued - Morningstar
On Jan. 30, 2017, Vodafone confirmed media speculation that it is in discussions with the Aditya Birla Group regarding the possible merger of Vodafone India and Idea Cellular. There is no guarantee that such a merger will come to fruition, so we are maintaining our fair value estimate and narrow moat rating at this time. If the deal takes place, Vodafone will deconsolidate its Indian operation.