Vodafone India has signed an agreement to acquire TRG Capital-owned YOU Broadband for around Rs 400 crore and is currently subjected to approval from the Foreign Investment Promotion Board, reports Economic Times. When contacted by MediaNama, Vodafone declined to comment on the development.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. It also claims to have collaborated with companies like Motorola, Avvaya, Commscope, Cisco to provide their services across the 12 cities they operate in.Vodafone to merge its assets: 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). The company is currently awaiting an approval of the High Court. Vodafone was also looking to merge Vodafone West and Vodafone Spacetel with Vodafone Services, for which it would need to submit Rs 1,950 crore.MediaNama's Take: Vodafone has been consistently holding on to the the top three position position shared by its competitors Airtel and Idea as well. These top players have already invested quiet a bit in rolling out 4G services in the country but Airtel stands out among them with a considerable broadband presence as well. The terms of agreement between Vodafone and You broadband are not clear as of now, but the deal would immensely work in Vodafone's favor in…
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Speaking to Medianama, founders of the concerned companies alleged Google was the one not in compliance with the Indian competition regulator's antitrust order.
Haryana Police Seeks Cancellation of Visas, Passports of Protesting Farmers Identified Through CCTVs, Drone Footages
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