Vodafone Essar Limited

Column : Dialling into tax trouble
Financial Express (India), The | 28 days 38 minutes ago
: The recent decision of the Bombay High Court in the Vodafone case would have a significant impact on the cross border transactions relating to assets located in India. Vodafone, a mobile service provider had acquired 100% shares in a Cayman Islands company for $11.2 billion from Hutchison International, a Hong Kong based company. This Cayman Islands company previously owned by Hutchison, had a 67% shareholding in Hutchison Essar Limited, an Indian entity, through an intermediate Mauritius e...

Vodafone to appeal against India tax ruling
Financial Times | 32 days 15 hours 50 minutes ago
The Mumbai High Court on Wednesday dismissed a challenge by Vodafone against a $2bn tax case in a blow to the UK group and a potential setback for other companies looking to make investments in India.Vodafone had challenged whether Indian tax authorities had the right to assess the tax on the UK group s $11bn acquisition of a local mobile company, Hutchison Essar.Vodafone said it would appeal against the ruling to the Supreme Court in New Delhi, the country s highest court, using an eight-wee...

NTT DoCoMo's Tata Deal: Why Global Telecom Firms Want to Dial India
Knowledge@Wharton | 39 days 17 hours 26 minutes ago
On November 12, Tokyo-based NTT DoCoMo announced it was entering into a strategic alliance with the Tatas. The Japanese telecom giant which, with 53 million customers and 51.5% of the Japanese market, is one of the world's largest players in the telecommunications industry, bought a 26% stake in Tata Teleservices Ltd (TTSL) for $2.7 billion. NTT DoCoMo followed up this deal with an open offer for 20% in Tata Teleservices (Maharashtra) Ltd -- TTML -- the listed subsidiary of TTSL. At Rs24.70 (...

Loan week, December 12-18
FinanceAsia.com | 19 days 23 hours 17 minutes ago
A roundup of the latest syndicated loan market news.

NTT DoCoMo buys in India
Financial Times | 55 days 11 hours 13 minutes ago
If precedent serves, NTT DoCoMo s $2.7bn swoop on India s sixth biggest wireless carrier will end in tears. At the turn of the century, the overseas misadventures of Japan s biggest mobile operator destroyed some $9bn of value. Recent Japanese shopping in India has been equally misjudged. Daiichi Sankyo recently paid $4.2bn for a controlling stake in Ranbaxy Laboratories, India s biggest drugmaker by sales. That allowed the Indian owners to cash out big time its shares are now worth less th...

Vodafone shares surge on plan to protect earnings
International Herald Tribune | 57 days 8 hours 53 minutes ago
LONDON: Shares in Vodafone Group, the world's largest mobile phone company, rose as much as 11 percent in London trading Tuesday after the company said that it aims to cut costs to protect earnings amid falling demand.

NTT s move on India shocks industry
Financial Times | 55 days 11 hours 13 minutes ago
When Norway s Telenor last month paid a handsome $1.1bn for 60 per cent of Unitech Wireless, a greenfield Indian mobile operator, telecom analysts in India were surprised. After all, Unitech, an untested, green-field mobile operator owned by a property company whose only assets were licences and some spectrum, would not normally be regarded as a prize catch. So when Japan s NTT DoCoMo announced it was planning to pay a hefty price valuing one of the Indian industry s underperformers, Tata Tel...

Ex-Vodafone chief set to rule out Yahoo move
Financial Times | 22 days 22 hours 54 minutes ago
Arun Sarin, the former head of Vodafone (pictured left) has decided not to pursue the possibility of becoming the next chief executive of Yahoo.The Silicon Valley-based internet company had expressed a keen interest in Mr Sarin succeeding Jerry Yang, according to people close to the former chief executive of the UK-based mobile phone operator.However, he is expected to tell Yahoo that he does not want the job, according to these people. Yahoo said the company did not comment on rumours or spe...

Ex-Vodafone chief set to rule out move to Yahoo
Financial Times | 22 days 20 hours 2 minutes ago
Arun Sarin, the former head of Vodafone, has decided not to pursue the possibility of becoming the next chief executive of Yahoo.The Silicon Valley-based internet company had expressed a keen interest in Mr Sarin succeeding Jerry Yang, according to people close to the former chief executive of the UK-based mobile phone operator.However, he is expected to tell Yahoo that he does not want the job, according to these people. A Yahoo spokesman said the company did not comment on rumours or specul...

HTIL to pay out $4.35bn in special dividend
Financial Times | 55 days 11 hours 13 minutes ago
Hutchison Whampoa and Cheung Kong, billionaire Li Ka-shing s Hong Kong flagships, are to pocket $2.7bn after a telecommunications unit announced a hefty special dividend due to the lack of suitable investment opportunities .Hutchison Telecommunications International (HTIL), which sold its Indian arm to Vodafone for $10.9bn in 2007, said it would pay shareholders a cash dividend of HK$33.7bn ($4.35bn), or HK$7 per share, next month.HTIL last year booked a $8.9bn profit from the sale of Hutchi...