NEW DELHI: India’s Piramal Enterprises Ltd said it has agreed to sell about 11% stake it owns in the Indian unit of Vodafone Group Plc to the British group for 89 billion rupees (US$1.48bil).
The deal is part of Vodafone’s plan first announced last October to take full control of the unit for a total of 101.41 billion rupees, following a change in rules allowing foreign companies to own up to 100% of Indian telecommunications carriers.
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