31 Mar '11, 11am

Vodafone pays US$5b to buy out India partner Essar: NEW DELHI: British phone giant Vodafone said Thursday it had...

Vodafone pays US$5b to buy out India partner Essar: NEW DELHI: British phone giant Vodafone said Thursday it had...

NEW DELHI: British phone giant Vodafone said Thursday it had paid $5 billion to buy out its Indian partner Essar in their mobile phone venture, snapping an increasingly strained relationship. The sale came after differences between the partners had become more public in recent months on the valuation of their joint venture, which they had hoped would allow them to exploit India's booming mobile phone market. Vodafone's pact with the Essar Group gave the Indian firm an option to sell its stake to the British-based company for $5 billion that expired in May. The deal will result "in a total cash payment of $5 billion" to the Essar Group and "final settlement is anticipated to be no later than November 2011," Vodafone said in a statement. Vodafone said the Essar Group, founded by billionaires Shashi and Ravi Ruia, had exercised its option to sell its stake in Vodafone Essar, ...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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M1 pays $21.7m for mobile airwaves: M1 SUBSCRIBERS can look forward to smoother Internet surfing and clearer cal...

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I don’t buy that « Opinion « THE TEMASEK REVIEW

temasekreview.com 01 Apr '11, 11pm

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