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Thursday, April 10, 2014

Vodafone 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 (VOD) 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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