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