India Is Gouging Its Wireless Carriers to Fill a Budget Hole [Yahoo! Finance News]
Vodafone Group Plc - American Depositary Shares each representing ten Ordinary Shares (VOD)
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Source: Yahoo! Finance News
India Is Gouging Its Wireless Carriers to Fill a Budget Hole ) -- When Arun Sarin, Vodafone Group Plc’s India-born former CEO, was charting the British telecommunications firm’s expansion into emerging markets in the mid-2000s, his home country with more than a billion potential phone users seemed a compelling choice. Sarin wasn’t alone. Norway’s Telenor ASA, Russia’s TeleSystems PJSC and Malaysia’s Maxis Bhd were also among a slew of companies that flocked to this fast-growing market. The carriers banded with local partners, bid for airwaves and licenses, spending billions of dollars to prepare their networks. But what once appeared to be their most-promising Asian wireless market has turned sour. Vodafone’s Indian venture with billionaire Kumar Mangalam Birla, saddled with $14 billion of debt, is said to be seeking to revamp its borrowings amid mounting losses and a tariff war. Tycoon Sunil Mittal’s Bharti Airtel Ltd. is rated junk by Moody’s Investors Service. In a market that had
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Sec Filings
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- 3/28/24 - Form 6-K
- VOD's page on the SEC website