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How important is Modiís German visit... German envoy Steiner caps a language row Excise duty may halt the war in SUV market Fox Star Studios to tie-up with Bolly-wood and Kollywood TVS bullish on the two wheeler market? LANCO opens negotiations with buyers for Karnataka power plant Singapore Airlines prefers Airbus Lanco to sell Australian acquisition Flipkart India in the red by Rs 280 crore Aircraft lessors to get protection from defaulting airlines TCS, Indiaís biggest block buster Infosys not to cut prices ONGC to draw down on reserves to meet CAPEX needs Latin America beckons India for investments Smartphone prices may change Capital Notes Vodafone slapped with tax notice of Rs 3700 crore Jet-Etihad Rs 2000 plus crore deal to be cleared Urja Sangam in Delhi Kolkata kisses goodbye to Ambi? Airlines hit by service tax on lease GMR to raise US $ 250 mn thru QIP Canada screams over IT outsourcing to India While MoTown is on a tailspin, the telecom sector is staging a rally Carlyle invests in Trehanís Medanta Medical Centre Vodafone to buy out minority shareholders Plans to double trade with Latin America Trends point to a hung assembly Wal-Mart studying FDI norms post split with Bharti Automobile sector in slump... Hunt for new finance secretary on... SpiceJet in the news again Renault revving up small car launch Hyundai Grand i10 awaiting launch
 
Vodafone to buy out minority shareholders

The Union cabinet has approved a proposal by Vodafone Group Plc to buy out minority shareholders in its India unit for a consideration of about Rs 10,141 crore.

Vodafone’s proposal entails acquiring the 11 per cent stake in Vodafone India Ltd held by Piramal Enterprises and businessman Analjit Singh. Vodafone, it might be recalled, in buying Hutchison Whampoa stake in cellular operations picked direct and indirect control in about 85 per cent of Vodafone India. After Airtel, Vodafone India is the 2nd largest telecom operator in the country encompassing cellular services.  Vodafone’s latest acquisition proposal had received the nod of the Foreign Investment Promotion Board (FIPB) in December last year. But the cabinet approval now makes the proposal formal and clears all decks for Vodafone to strengthen its Indian operations.

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