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India: Vodafone asked to pay $302 million ahead of merger

By  |  November 24, 2015

The Supreme Court has asked Vodafone Group to pay 20 billion rupees to the government in relation to the phone carrier’s plans to merge four of its operating businesses ahead of a share listing.

Vodafone India Ltd, the country’s second-biggest mobile phone carrier by customers and revenue, is contesting at a telecoms tribunal government charges of about $1.1 billion for merging the businesses.

The Supreme Court on Monday asked Vodafone for the $302 million as an interim payment, according to a lawyer on the case. The government will allow the merger process to proceed as soon as Vodafone deposits the money, the lawyer said.

Vodafone’s final fee will depend the outcome of the case at the telecoms tribunal, the lawyer said.

Full content: The Economic Times

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