epa05312167 (FILE) A file photo dated 23 July 2008 showing pedestrians walking past a Vodafone store in London, Britain. Vodafone on 17 May 2016 reported their full-year ended 31 March 2016 financial results results, saying their annual earnings grew to 11,6 billion pound, an increase of 2.7 per cent. The company reported an increase in total annual sales of 2.3 per cent to 41 billion pound for the full financial year. EPA/ANDY RAIN
HONG KONG: Vodafone Group is likely to file a draft prospectus for the planned IPO of its Indian business in August with the listing expected in the fourth quarter, in a deal seen raising as much as US$2.5bil (RM10.0bil), people with direct knowledge of the matter told Reuters.
The British telecoms group, India’s largest mobile operator after Bharti Airtel, has begun work on the prospectus that would incorporate the Indian unit’s financials for the first half of the calendar year, they said.
Vodafone hired Bank of America Corp, India’s Kotak Investment Banking and UBS AG in April as global coordinators for the IPO, set to be India’s biggest stock market listing since 2010.
A London-based Vodafone spokesman declined to comment on the timeline, saying the potential India IPO was a “lengthy process” and no decision would be made until the company was at the end of it. Sources declined to be identified as the information is not public. - Reuters
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