Vodafone facing additional foreign ownership issues in India - Mobile World Live

Vodafone facing additional foreign ownership issues in India

06 APR 2011

The Economic Times reports that Vodafone is facing additional issues relating to the foreign ownership levels of its Indian business Vodafone Essar, because of the change of status of one of the other minority shareholders in the business. IDFC, which has an indirect stake in Vodafone Essar, has previously been classified as an Indian business, but in September 2010 overseas investors increased their ownership of this company beyond 50 percent, meaning it will now be counted as a foreign firm. The Indian authorities place a cap of 74 percent on international investment in domestic telecoms operators.

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