Vodafone-Idea has blocked almost 8,000 SIM cards in Madhya Pradesh. These SIM cards have been blocked on the direction of the Madhya Pradesh cyber police. Here are the details:
Showing confidence in its India joint venture, UK-based Vodafone Group on Monday raised its stake in cash-strapped Vodafone Idea Limited’s (VIL) from 44.39% to 47.61% through its subsidiary Prime Metals Limited (PML). Experts say the move is a signal of promoter’s intent to rebuild the company. They say the renewed confidence by the parent company would have a rub-off effect on other investors.
Showing confidence in its India joint venture, UK-based Vodafone Group on Monday raised its stake in cash-strapped Vodafone Idea Limited’s (VIL) from 44.39% to 47.61% through its subsidiary Prime Metals Limited (PML). Experts say the move is a signal of promoter’s intent to rebuild the company. They say the renewed confidence by the parent company would have a rub-off effect on other investors.
That's a good sign, they should have directly bought the additional stake under Vodafone PLC rather than through a subsidiary. Anyway it will go a long way in building investor confidence. They should buy out the entire stake of Aditya Birla group ideally.
this move is less stong impact when brought under vodafone plc. anyway money is circulating from
bharti airtel to vodaone plc to prime metal to vodafone idea to indus to bharti shareholding (indiect- via reduced current debt)
@Esmail, my thought says Birla should remain in telcom/data-internet business(with AT&T or Tata, or voda or airtel or independently), and not supporting shout where social media says go back voda by selling every equity in vi.
do u saying that Birla is just entered in telecom biz in 1995-96 in Maharashtra, Gujrat and just got bigger by chance to just to see a day to sell entire telecom biz to foreign player?
do u saying that Birla is just entered in telecom biz in 1995-96 in Maharashtra, Gujrat and just got bigger by chance to just to see a day to sell entire telecom biz to foreign player?
I'm saying Aditya Birla group isn't as serious about their telecom business now as it was say a decade back. After Jio entered in the market, ABG has been steadily retracting from the telecom business and I won't be surprised if tomorrow they find a strategic investor and offload their entire shareholding.
They would prefer to focus their resources in the other verticals like Cement, chemicals, textile, finance and capital which are actually profitable rather than putting good money behind bad.