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(Hosting-NewsWire.com, December 17, 2013 ) Bend, OR -- Going by a recent news story by Sumeet Chatterjee and Devidutta Tripathy published on October 29 on reuters.com about Vodafone Group Plc. which is seeking authorization from the authorities to boost its stake in the Indian unit in a deal valued at 101.41 billion rupees ($1.65 billion), DigitalOlympus.com comments on the report.
According to the reuters.com news story, Vodafone which arrived in India in 2007 by acquiring Hutchison Whampoa's local cellular assets in an $11 billion transaction directly and indirectly owns a joint 84.5 percent of Vodafone India, the country's No.2 telecoms firm by subscribers. Vodafone precisely owns 64.38 percent of the India unit.
“The move by the authorities in Indian to permit foreign investors to take over their local units may turn out to be a huge boost for telecom carriers,” says DigitalOlympus.com principal researcher Josh Cole. “Just the way firms that specialize in phone systems equipment in western countries have benefitted from telecom carriers, similar firms in India would also benefit from the Vodacom deal.”
Furthermore, the reuters.com news report indicates that in August India lowered rules on foreign holdings in the sector to permit firms like Vodafone to own 100 percent of their Indian businesses. Prior to the changing of the rules, foreign firms were restricted to direct stakes of not beyond 74 percent in Indian service providers.
“Obtaining endorsement from authorities in India to fully own its business would give Vodafone the chance to expand its business in the country,” says DigitalOlympus.com spokesperson. “The onus is now on Vodafone to extend its business to several sectors including firms that specialize in business phones equipment.”
DigitalOlympus.com is a leading business news and technology research blog that is committed to providing relevant news in business and technology research which its readership can benefit from.
TelcoDepot
Yaron Ram
6319645000
info@telcodepot.com
Source: EmailWire.Com
Source: EmailWire.com
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