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