According to a recent revelation made by the Economic Times Newspaper, it has been revealed that Vodafone is holding talks with PE for the purpose of selling the stakes for its operations in India. Couple of weeks ago, the much awaited Essar deal was made final by Vodafone. The money involved in this deal was USD5.46 billion. This gave them a shareholding stake of as much as 74%.

There might be about 1% of the load given to the Indian Investors and a larger part of the stakes shall be given out to overseas investors. It was revealed by the MD and the CEO of the firm Mr. Marten Pieters that the timings for the same developments shall be revealed according to the conditions of the market. They shall move forward with their implications once they know it shall be beneficial for them in the long run.

The hearing date for the tax case including Vodafone in India was scheduled to July 19, but has been postponed for now. “This start date has been postponed for procedural reasons. We do not yet know the new date,” said group spokesman Ben Padovan.

“We have not made a provision in our accounts as we strongly believe that no tax is due. Also, because Vodafone is the buyer it seems harsh to be pursued for capital gains tax”, he said further.