Vodafone Said to Win Battle for Indian Phone Company
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The deal for Hutchinson Essar, one of Indiaâs fastest growing telecommunications companies, values the company at around $19 billion.
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VODAFONE has revealed it will hike its dividend payment when it reports half-year results in November, while chief executive Arun Sarin insisted he was keen to make further global acquisitions.
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British-based mobile phone giant Vodafone Group said Tuesday that it was not in talks with US partner Verizon Communications about a possible bid for US rival Sprint.
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Mobile phone group Vodafone announced Tuesday that it slashed net losses last year as its growth strategy in emerging markets such as India and Turkey began to pay off.
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Vodafone is putting its substantial weight behind a 3G push by offering ten handsets in the run up to Christmas. From November the firm will sell handsets from manufacturers including Samsung, Sharp, Sony Ericsson, Motorola, NEC and Nokia.
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VODAFONE faces losing its last opportunity to gain an independent foothold in the US as the bidding war for Sprint, Americaâs top US mobile operator, heats up.
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SIR CHRIS GENT may have been the man who grew Vodafone into the world&#39;s largest mobile phone company, but his successor Arun Sarin is the man who must deliver the rewards to investors.
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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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Despite pressure from a shareholder group, Vodafone says it's 45 percent stake in Verizon Wireless is too profitable to get rid of.
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Beleaguered Vodafone chief executive Arun Sarin has said that he had enough support to defeat a shareholder revolt to remove him from heading the British mobile phone giant.
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BARCELONA/HONG KONG  - Vodafone shares climbed in early Monday trading after it beat rival suitors with an $11.1 billion bid for a controlling stake in Hutchison Essar, India's fourth-biggest mobile phone firm.
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Business & money: World's largest mobile operator finds conditions 'very difficult' in Europe but looks to growth in emerging markets like India.
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Vodafone seems to be lining up a November launch of its 3G mobile phone service for the consumer user. To date the operartor has only offered next generation mobile serivces on a selective basis to business users.
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BARCELONA/MUMBAI  - 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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British mobile phone giant Vodafone 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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Analysis After the phoney war of the operatorsâ launch of 3G data cards in Europe, the real battle commences for the mass 3G market, with Vodafone leading the charge.
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(InfoWorld) - Shareholders of Vodafone Group soundly rejected a proposal to spin off the company's stake in Verizon Wireless on Tuesday, signaling they want the British mobile operator's management to stay the course. Vodafone, which has cellular businesses in 23 countries around the world, owns 45 percent of Verizon Wireless. Incumbent wireline carrier Verizon Communications holds the other 55 percent. Efficient Capital Structures (ECS), an investor group, presented a resolution for Vodafone's Tuesday annual meeting that called on the carrier to either create a new holding company consisting of its stake in Verizon Wireless or create a separate tracking stock so investors could choose to buy into that part of Vodafone. ECS argued investors can't take advantage of Verizon's success today. "The investment is 'buried' within Vodafone's Emerging Markets division, preventing the market from valuing it directly," ECS Chairman Glenn Cooper said in a statement to shareholders. He also argued that because Verizon uses CDMA while the rest of Vodafone's networks are based on GSM, it should be broken out. However, less than 5 percent of Vodafone shares were voted in favor of the resolution, one of a series of proposals by the group that the company's board opposed. All of them were voted down. Verizon Wireless is one of the two dominant mobile operators in the U.S. Rival AT&T has 62 million subscribers to Verizon's 60 million, but Verizon had slightly more revenue last year at about US$38 billion. Vodafone's stake in the operator gives it a toehold in the U.S. mobile market but doesn't allow it to run its own business or build up its brand. Vodafone tried to acquire AT&T Wireless in 2004 before that company was acquired by Cingular. Joint ownership also leaves Verizon Communications without full ownership of its cellular business, which rival AT&T now has. That may make it easier for AT&T to bundle wired and wireless services for subscribers. Last week,Â Vodafone denied reports that it was considering buying all of Verizon CommunicationsÂ and then spinning off the wireless business. Vodafone had 198.6 million customers across Europe, the Middle East, Africa, and the Asia-Pacific region at the end of last year. Â