Vodafone set for entry into India as local rivals welcome stake buy
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British mobile-phone giant Vodafone's purchase of a 11.1-billion-dollar stake in India's Hutchison Essar has been welcomed by local contenders, smoothing its entry into the world's fastest-growing wireless market.
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Britain's Vodafone Group Plc   has won the battle for a controlling stake in Hutchison  Essar with a bid that values India's fourth-biggest mobile firm  at around $19 billion, including debt.
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US telecoms firm Verizon is reported to have won the backing of mobile partner Vodafone for a bid for US rival Sprint.
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The company signs on an Indian cellular provider, looking to capitalize on the country's fast-growing wireless market.
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Vodafone Group Plc  has  won the battle for a controlling stake in India's No.4 mobile  operator Hutchison Essar with a bid that values it at around  $19 billion including debt, a source and India's Essar group  said on Sunday.
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Global mobile provider Vodafone began using its own name across India Friday following its purchase of an Indian firm, rolling out what the company called one of the world&#39;s biggest rebrandings.
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Telecom giant Vodafone said it will invest more than two billion dollars in a drive to make its new Indian purchase, Hutchison Essar, the country's biggest mobile phone company.
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Vodafone plans to launch several phones targeting holiday shoppers in Europe, including a high-end, touch-screen rival to the iPhone.
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Vodafone Group Plc  has  won the battle for a controlling stake in Hutchison Essar,  India's No. 4 mobile operator, with a bid that values it at  around $19 billion including debt, a source and India's Essar  group said on Sunday.
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Verizon Communications has gained the backing of partner Vodafone Group to bid for Sprint Corp in a move that could thwart Sprint&#39;s potential $35 billion bid for Nextel Communications, the Wall Street Journal reported on Tuesday.
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As it reported results on Tuesday, the Vodafone Group, the world&#39;s largest mobile phone operator, said that it would double dividends and increase a share buyback program by Â£1 billion ($1.9 billion).
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Vodafone looks to have won the battle for control of Hutchison Essar, India's fourth largest mobile operator, according to people familiar with the matter.
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British mobile phone giant Vodafone has agreed to buy an 11-billion-dollar controlling stake in India's Hutchison Essar in an attempt to move into the world's fastest-growing mobile phone market.
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4G or not to be 3GSM Mobile carriers risk been leapfrogged by new entrants unless they work together to speed up the development of technologies such as mobile payments, according to Vodafone chief exec Arun Sarin.â¦
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(InfoWorld) - India's Essar Group will remain as a key shareholder in Indian mobile services provider Hutchison Essar, but will likely negotiate stronger minority shareholder rights with Vodafone Group, which Sunday announced it wasÂ acquiring a controlling 67 percent stakeÂ in the company. Essar Group does not intend to exit Hutchison Essar, and will run the company together with Vodafone, Essar Group Vice Chairman Ravi Ruia told reporters late Thursday after Vodafone CEO Arun Sarin met him in Mumbai. The terms for cooperation between Essar and Vodafone were laid out later in a statement from the Essar Group. "We will ensure that all of our shareholder rights, including under our shareholders' agreement with Hutchison, are adhered to," Essar Group said late Thursday. This gives the Essar Group theÂ right of first refusal to the proposed saleÂ of its equity by Hutchison Telecommunications International Ltd. (HTIL), according to informed sources. This right does not apply to the sale to Vodafone, Sarin told reporters this week. But the Essar Group could tie down Vodafone in protracted litigation. It is more likely to use this clause in the shareholder agreement with HTIL to negotiate a more favorable shareholder agreement with Vodafone, the sources said. The Essar Group holds 33 percent in Hutchison Essar. Vodafone has said it would prefer Essar stayed as a partner, but if it chose to exit it would offer to buy its stake for the same price per share it is offering HTIL. Essar hasn't entirely ruled out divesting from Hutchison Essar. Vodafone has approached Essar to discuss a possible partnership as regards Hutchison Essar, the Essar Group said in its statement. It will decide its future course of action in due course and in the best interests of the Essar group, it added.
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The misinformation and confusion over whether or not the US mobile phone company Verizon Wireless, part owned by Vodafone, is going to muscle in on the $35bn (Â£18bn) merger of rivals Sprint and Nextel continued yesterday with hedge funds playing both
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Singapore Telecommunications Ltd and Vodafone Group Plc have agreed to build a high-speed wireless phone network in Australia through their local