Vodafone buys full control of Indian unit

Dylan Bushell-Embling
14 Apr 2014
00:00

Vodafone has completed the full buyout of its Indian subsidiary for 101.42 billion rupees ($1.68 billion.

The company announced it has bought out the 11% stake in Vodafone India held by Piramal Enterprises.

Combined with the purchase of indirect stakes held by two investors in March, Vodafone's share in the mobile operator has now increased to 100%.

Vodafone won approval to acquire full control of its Indian subsidiary in February, under new Indian rules relaxing the restriction on full foreign ownership of a telecom operator.

Ovum practice leader for industry, communications and broadband Steven Hartley toldFierceWireless:Europe that he does not expect the acquisition will deter potential suitors from pursuing a takeover bid.

On the contrary, simplifying the company's ownership structure could make Vodafone a more compelling acquisition target, he said.

Japan's Softbank is rumored to be evaluating an acquisition of Vodafone Group to pursue a European expansion. Such a deal could be worth as much as $160 billion. US-based AT&T has also hinted that it could pursue a Vodafone acquisition.

Related content

Follow Telecom Asia Sport!
Comments
No Comments Yet! Be the first to share what you think!
This website uses cookies
This provides customers with a personalized experience and increases the efficiency of visiting the site, allowing us to provide the most efficient service. By using the website and accepting the terms of the policy, you consent to the use of cookies in accordance with the terms of this policy.