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Vodafone moves to fully own India unit in $1.7 billion deal

29
Oct
2013

MUMBAI (Reuters) – Vodafone Group Plc has sought approval from the authorities to raise its stake in the India unit for 101.41 billion rupees ($1.65 billion) it said on Tuesday, after India allowed foreign companies to take full ownership of local carriers. Vodafone, which entered India in 2007 by buying Hutchison Whampoa’s local cellular assets in an $11 billion deal, directly and indirectly owns a combined 84.5 percent of Vodafone India, the country’s No.2 telecoms company by users. Vodafone directly owns 64.38 percent of the India unit. …

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