The CEO of mobile operator Vodafone India, Marten Pieters, was quoted telling reporters that a listing of the company would be highly unlikely this year if the regulator’s proposals on the auction of 2G spectrum are accepted by the…
The CEO of mobile operator Vodafone India, Marten Pieters, was quoted telling reporters that a listing of the company would be highly unlikely this year if the regulator’s proposals on the auction of 2G spectrum are accepted by the government.
Pieters reportedly said doing an IPO “in the middle of so many spectrum auctions” would be difficult.
The company has said on several occasions previously that it is planning to list itself on the country’s stock exchanges.
But the Supreme Court’s decision to cancel 122 2G licences in early February has forced several operators to re-consider their investments in the country.
Proposals on reserve prices for the new 2G auction by the Indian telecoms regulator have further exacerbated concerns from telcos about the country’s regulatory environment.
In addition, Vodafone may be facing a colossal tax bill linked to the purchase of a 67% stake in Vodafone India in 2007, after the finance ministry proposed to amend some tax laws recently.
