Vodafone India has acquired TRG Capital owned internet service provider YOU Broadband for around Rs 350-400 crore, reports The Hindu. When contacted by MediaNama, Vodafone declined to comment on the development, while YOU Broadband is yet to reply. At the moment, there is no clarity on how Vodafone is planning to use YOU Broadband, and if YOU Broadband will continue to offer its services independently.
Last month, Vodafone had signed an agreement to acquire YOU Broadband for around Rs 400 crore, subject to approval from the Foreign Investment Promotion Board (FIPB).
A Telecomtalk report seems to have got hold of pamphlet issued by Vodafone. In it, both companies are offering 4 different quarterly broadband plans at 10Mpbs, 50Mbps and 100Mbps speeds. YOU Broadband claims to have around 3,000 km of optic fiber cables, and 6,000 km of last mile cables to homes across 12 cities including Mumbai, Bangalore, Gurgaon, and Chennai.
-Last week, Vodafone India was in talks with investment bankers to launch its initial public offering. The IPO is expected to raise anywhere around $2 billion and $2.5 billion.
-Last month, Vodafone and the Uttar Pradesh Power Corporation Limited (UPPCL), signed a partnership to allow consumers in the Uttar Pradesh (East) circle to pay their electricity bills through M-Pesa.
-In February, Vodafone had said that it would invest Rs 6,000 crore in Maharashtra for capacity augmentation and new business initiatives in the state.
-In the same month, the company completed the first phase of its planned 4G rollout under the 1800 MHz band with the launch of its 4G service in Mumbai.
– In February, it said that it witnessed a 56% increase in 3G connections from 16.6 million connection in Q3 FY15 to about 25.9 million 3G Internet connections for the quarter ended December 31, 2015.
-In December last year, The Department of Telecom had given a green signal to Vodafone to merge four of its Indian entities (Vodafone East, Vodafone South, Vodafone Cellular and Vodafone Digilink) into Vodafone Mobile Services (VMS).
-In November 2015, Vodafone had announced that it would invest Rs 13,000 crore for network expansion, capacity augmentation, and to introduce new business initiatives in India.
-This month, Reliance Jio said that it will use the newly launched Bay of Bengal Gateway’s (BBG) undersea cable landing facility in Chennai to offer high-speed broadband services in the country.