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Articles tagged with: Essar and Vodafone
Hutchison Warns Off Possible Indian Tax Liability in Sale to Vodafone
Hutchison Telecom International has accepted that it might have to make some payments in regards to the ongoing tax dispute in India over the sale of its stake in Hutchison essar to Vodafone in May 2007. Although the transaction technically occurred outside India, the government has been suing Vodafone for up to US$2 billion in sales tax that it claims is owed to it. more
Related Tags: hutchison-telecom-international, hutchison, vodafone-essar, cgp-investments, tax, hutchison-essar, India
Fitch Revises Vodafone's Outlook to Negative
Fitch Ratings has changed Vodafone's Issuer Default Ratings outlook to negative, although it affirmed the company's current ratings for long-term Issuer Default (IDR) and senior unsecured ratings at 'A-' (A minus) and Short-term IDR at 'F2'. more
Related Tags: fitch-ratings, vodafone-essar, fitch
Indian Operator at Risk of Losing Telecoms License
The telecoms license held by India's Loop Telecom may be at risk after the ministry of corporate affairs (MCA) has asked the communications ministry to investigate if the shareholders violate the law on cross company ownership. more
Related Tags: loop-telecom, bpl-mobile, essar-group, ovi, zte, tim, ict, mumbai, loop-mobile, India
Vodafone Raises Debt for Indian Expansion
Vodafone essar, the company's Indian subsidiary is reported to have sucessfully raised around Rs 10,000 crore (US$2 billion) in a 5-year debt financing for network expansion and the forthcoming 3G license auction. The loan was arranged by the State Bank of India Capital Markets. more
Related Tags: , 3g, ict, 3g-license, tim, mumbai, tax, hutchison, vodafone-essar, India
Vodafone to Expand Ringback Tone Deal into Emerging Markets
Vodafone has signed a deal with India based OnMobile to offer ringback tones in its emerging markets. Currently, millions of Vodafone essar customers in India use OnMobile's ring back tone service, which will be rolled out across Vodafone's other emerging markets from the Spring. more
Related Tags: , eu, ringback-tones, vodafone-essar, India
India's Aircel Reported to be in Talks to Buy Loop Mobile
India's Aircel Cellular is reported to be in talks to buy Mumbai based Loop Mobile (formerly BPL Mobile), which is owned by the Ruias of the essar group. Both companies have been holding discussions for around seven months now, two people familiar with the discussions told the Economic Times. more
Related Tags: , ict, tim, mtn, cdma, loop-telecom, bpl-mobile, essar-group, bharti, bharti-airtel, mtnl, mumbai, seven, maxis, vodafone-essar, aircel, loop-mobile, India
Vodafone Raising Funds for India's 3G Auction
Vodafone essar is reported to be currently trying to raise US$2 billion as a bridging loan to finance its bids in the country's delayed 3G and WiMAX auctions. The current reserve price for the 3G auction is US$412 million to cover all the available circles - although the auction has been delayed as the Finance Ministry is battling to double the reserve to at least US$824 million. more
Related Tags: wimax, wall-street-journal, hutchison-telecom, mumbai, tax, hutchison, India
Set-Back for Vodafone in Indian Tax Battle
Vodafone's tax battle with the Indian government has suffered a further set-back when the Supreme Court refused to hear an appeal by the telecoms giant - and ordered that the case be sent back to the tax department for its deliberation as to who should have legal jurisdiction over the case. more
Related Tags: ict, supreme-court, gsm, tax, hutchison, cgp-investments, hutchison-essar, India
Tata Merges Towers Division with Quippo Telecom
As has been long anticipated, Tata Teleservices (TTSL) has announced the details of plans to merge its tower division, Wireless Tata Telecom Infrastructure (WTTI), with Srei group's Quippo Telecom Infrastructure (QTIL). more
Related Tags: docomo, cdma, compete, reliance, bharti, tata-teleservices, gsm, vodafone-essar, reliance-infratel, towers, India
Vodafone Loses $2 Billion Indian Tax Case
Vodafone has lost a significant tax bill in India after the Bombay High Court upheld a claim by the government for around US$2 billion following its purchase of a majority stake in Hutchison essar. more
Related Tags: supreme-court, gsm, tax, hutchison, cgp-investments, India