Vodafone India Limited now 100% owned by Vodafone
Aavika
Author
April 12, 2014
Vodafone India Limited (VIL), the ever-so-growing telecommunication company has been bought 100% by Vodafone. VIL’s 89.03% of stake, earlier owned by Analjit Singh & Neelu Analjit Singh of Primal Enterprises, was bought by British Telecom Vodafone in March 2014 followed by remaining 10.97% on Friday. The deal summed up in INR 10,142 crores (£ 1.0 billion).
In October 2013, Vodafone announced its interest to buy minority partners and over take VIL right after Indian Government had allowed foreign companies to own up to 100% of Indian telecommunication services. Since Primal deal, Vodafone will be the first telecom company taking 100% ownership of an Indian operator.
“We are delighted to have secured 100% ownership of one of our fastest growing businesses. Vodafone is strongly committed to India and we have invested significantly over many years to bring communications to millions of people for the first time”, said Vittorio Colao, CEO of Vodafone Group after the deal.
The costumer base increased from 30 million to 164 million after Vodafone bought Hutchison in 2007 in USD 11 billion. That’s a whooping 500% growth. VIL is a house of 100,000 employees directly or indirectly with 1.6 million recharging outlets. VIL is also coming up with “Angel” store which will be managed by women only.
Vodafone India is nation’s second largest mobile operator.
In October 2013, Vodafone announced its interest to buy minority partners and over take VIL right after Indian Government had allowed foreign companies to own up to 100% of Indian telecommunication services. Since Primal deal, Vodafone will be the first telecom company taking 100% ownership of an Indian operator.
“We are delighted to have secured 100% ownership of one of our fastest growing businesses. Vodafone is strongly committed to India and we have invested significantly over many years to bring communications to millions of people for the first time”, said Vittorio Colao, CEO of Vodafone Group after the deal.
The costumer base increased from 30 million to 164 million after Vodafone bought Hutchison in 2007 in USD 11 billion. That’s a whooping 500% growth. VIL is a house of 100,000 employees directly or indirectly with 1.6 million recharging outlets. VIL is also coming up with “Angel” store which will be managed by women only.
Vodafone India is nation’s second largest mobile operator.