Vodafone takes full control of Indian unit

LONDON Fri Apr 11, 2014 3:19am EDT

A man checks his mobile phone as he walks past a shop displaying the Vodafone logo on its shutter in Mumbai January 15, 2014. REUTERS/Danish Siddiqui

A man checks his mobile phone as he walks past a shop displaying the Vodafone logo on its shutter in Mumbai January 15, 2014.

Credit: Reuters/Danish Siddiqui

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LONDON (Reuters) - Britain's Vodafone (VOD.L) said on Friday it had taken full ownership of Vodafone India by buying the 11 percent it did not already own from Piramal Enterprises Limited (PIRA.NS).

In March 2014, Vodafone increased its stake in the unit to 89 percent by buying out Analjit Singh and Neelu Analjit Singh. It said the combined cost for both the deals in March and on Friday was 101.418 billion rupees, or 1 billion pounds. ($1 = 0.5961 British Pounds)

(Reporting by Paul Sandle; editing by Kate Holton)

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