Vodafone to buy 11% holding in Indian subsidiary for $1.48B


Vodafone (VOD) has agreed to acquire an 11% stake in its Indian unit held by partner Piramal Enterprises for 89B rupees ($1.48B).

The transaction is part of Vodafone's plan to obtain 100% control of the subsidiary for a total of 101.41B rupees. The U.K. company owns 84.5% of Vodafone India directly and indirectly.

Vodafone also intends to purchase the holding of another minority investor, businessman Analjit Singh.

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Comments (1)
  • Veritas1010
    , contributor
    Comments (2960) | Send Message
     
    VOD is only going to stay cheap for so long...

     

    disc.: long VOD
    10 Apr 2014, 06:56 PM Reply Like
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