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