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