Vodafone takes full control of its Indian business

11th Apr 2014 07:50

Mobile telecoms group Vodafone has taken full ownership of its Indian arm Vodafone India in two deals costing a total of 1bn pounds.Vodafone said it had bought the remaining 10.97% of Vodafone India Limited (VIL) from Piramal Enterprises.In March 2014, Vodafone bought indirect equity interests in VIL held by Analjit Singh and Neelu Analjit Singh, taking its stake to 89.03% of VIL.The deals are part of Vodafone's plan announced last October to take full control of VIL following a rule change allowing overseas carriers to wholly own their Indian subsidiaries.Vodafone entered India in 2007 by buying Hutchison Whampoa's local mobile assets in a $11bn deal.PW

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