Deals
Vodafone’s IPO Hinges on $8 Billion Question: Corporate India
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Vodafone India Ltd. said it’s “impossible” to proceed with a proposed initial share sale until the government clarifies the price to extend licenses that may amount to as much as $8 billion.
The fees that India’s second-largest mobile phone operator may have to pay could vary by 3 billion pounds ($4.8 billion) depending on how the government prices the permits, skewing the potential market value of the company, according to Chief Executive Officer Marten Pieters. The licenses are due for renewal from November 2014.