Plans Vodafone Group Plc ( VOD ) bought a number of local partner companies in India, valued at U.S. $ 1.6 billion, the Indian government approved . The Indian government steps taken, six months after the country allow foreign ownership in the telecommunications sector .
Cabinet of the Government of India agrees, VOD pay valued at 101.4 billion rupees to billionaire Ajay Piramal , Piramal Enterprises Ltd for the company. Payments will also be given to Analjit Singh, head of the Indian unit of Vodafone, amounting to 15.5 % of the shares he had not yet mastered, according to the Information Minister of India, Manish Tewari. The transaction value was reported to be 654.2 billion rupees ( U.S. $ 10.5 billion ).
Vodafone 's CEO, Vittorio Colao explained, economic growth in Asia and Africa as a consideration to offset the price war in Europe. India, which became the company 's largest market, accounted for approximately 10 % of revenues Vodafone.
"With a large population and economic growth that is good is not difficult to predict that India will become an important market for Vodafone," Colao said as quoted by Bloomberg, on Friday, 7 Feb 2014 ).
Cabinet of the Government of India agrees, VOD pay valued at 101.4 billion rupees to billionaire Ajay Piramal , Piramal Enterprises Ltd for the company. Payments will also be given to Analjit Singh, head of the Indian unit of Vodafone, amounting to 15.5 % of the shares he had not yet mastered, according to the Information Minister of India, Manish Tewari. The transaction value was reported to be 654.2 billion rupees ( U.S. $ 10.5 billion ).
Vodafone 's CEO, Vittorio Colao explained, economic growth in Asia and Africa as a consideration to offset the price war in Europe. India, which became the company 's largest market, accounted for approximately 10 % of revenues Vodafone.
"With a large population and economic growth that is good is not difficult to predict that India will become an important market for Vodafone," Colao said as quoted by Bloomberg, on Friday, 7 Feb 2014 ).
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