Tuesday 20 September 2011

Govt gives green signal to Vodafone's stake

The government has cleared the UK- based telecom operator Vodafone's proposal to buy 5.48 per cent stake in the joint venture, Vodafone Essar, from two Mauritius-based entities.
The deal is for transfer of shares of Vodafone Essar from Mauritius-based Essar Communications and Essar Com Ltd to Euro Pacific Securities, an indirect Mauritius-based subsidiary of Vodafone International Holdings BV.

"Since the transaction is between non-resident (firms) to non-resident, there is no foreign equity inflow," the finance ministry said in a statement. The transaction is worth Rs 2,700 crore.

Source: http://cablequest.org/news/broadband-and-iptv-news/item/244-govt-gives-green-signal-to-vodafones-stake.html
Source: http://cablequest.org/news/broadband-and-iptv-news/item/244-govt-gives-green-signal-to-vodafones-stake.html

No comments:

Post a Comment

Aadhaar leak: EPFO discontinues services provided through Common Service Centre

Following fear of Aadhaar data leak, the Employees Provident Fund Organisation (EPFO) on May 2 said it has discontinued services provided t...