OREANDA-NEWS. Vodafone announces that it now owns 100% of its Indian subsidiary, Vodafone India Limited (“VIL”).
In March 2014, Vodafone completed the acquisition of indirect equity interests in VIL held by Analjit Singh and Neelu Analjit Singh, taking its stake to 89.03% of VIL. Today Vodafone acquired the remaining 10.97% of VIL from Piramal Enterprises Limited. The combined cash consideration for both transactions was INR 101.418 billion (£1.0 billion1).
1 At an exchange rate of £1.00: INR 100.9713.