Verizon Communications Inc. set the stage for the $130 billion buyout of Vodafone Group Plc’s stake in their U.S. venture two years ago, when it named a new chief executive officer: Lowell McAdam, a 20-year veteran of the wireless industry with long-standing ties to Europe.
Vodafone Group Plc is poised to exit the best investment it ever made, pocketing as much as $130 billion from the 45 percent it owns in U.S. mobile company Verizon Wireless and focusing its attention on Europe.
Vodafone Group Plc Chief Executive Officer Vittorio Colao was under shareholder pressure to sell assets when he took over after his predecessors’ decade-long takeover binge. This week, he showed that his patience paid off.
Vodafone Group Plc , the world’s largest mobile-phone company, is ready to start talks to sell its 7 billion-pound ($11 billion) stake in SFR to Vivendi SA , the Daily Mail reported, citing people familiar with the matter.
Career Point Infosystems Ltd. , an education company that tutors students aspiring for a seat in the Indian Institute of Technology, more than doubled on debut making it the nation’s best performing IPO in 18 months.
Vodafone Group Plc , the world’s largest mobile-phone company, reported a smaller-than-estimated decline in full-year profit as the company sold mobile data services at a faster pace than some European rivals.
The Bombay High Court will rule today on Vodafone Group Plc ’s dispute with Indian authorities over taxes stemming from the purchase of Hutchison Whampoa Ltd.’s mobile-phone operations in the country. The judgment may set a precedent for tax liability in other cross-border deals.