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Vodafone takes full control of Indian unit
April 11, 2014 / 7:21 AM / 4 years ago

Vodafone takes full control of Indian unit

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).

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

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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