Vodafone buys full control of Indian unit

Dylan Bushell-Embling
telecomasia.net
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 told FierceWireless: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.

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