Vodafone Has Started Preparations For IPO Of Indian Unit

12/11/2015 10:38 AM IST | Updated 15/07/2016 8:25 AM IST
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The Vodafone logo sits illuminated on top of the Vodafone Group Plc regional offices in Berlin, Germany, on Thursday, Nov. 5, 2015. Liberty Global and Vodafone ended talks about an exchange of assets -- the companies' operations overlap the most in the U.K., Germany and the Netherlands -- denying the cable and mobile-phone giants a chance to consolidate in their key markets. Photographer: Krisztian Bocsi/Bloomberg via Getty Images

LONDON -- Britain's Vodafone said on Tuesday it had started preparations to float its Indian unit as it reported a return to earnings growth for the group as a whole in the first half.

"We have recently begun preparations for a potential IPO of Vodafone India, subject to market conditions," the mobile operator said.

Vodafone added 4.4 million customers in India in the first half of the year, taking its total in the country to 188.2 million.

Investors have been expecting Vodafone to float its Indian business but the plan has been delayed by a long-running tax dispute with the government and fierce competition in the market.

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