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Vodafone Group Plc Plans $2 Billion Investment To Raise Stake In Indian Unit-Reuters

Monday, 7 Oct 2013 02:41pm EDT 

Reuters reported that Vodafone Group Plc plans to invest as much as $2 billion to buy out minority shareholders in Vodafone India, the Financial Times reported on October 07, 2013. Vodafone will file an application this month with India's foreign investment promotion board to seek clearance for the investment, the Financial Times reported. The FT said the size of the investment suggested that the telecoms operator will not up its stake to 100%. The Financial Times said Vodafone is considering buying out some minority investors including industrialist Ajay Piramal, who holds 11% stake in Vodafone India. Vodafone owns about 64% of Vodafone India, while 25% is controlled by undisclosed minority shareholders, who are understood to include Analjit Singh, chairman of Vodafone India, the FT said. 

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