Vodafone buys Essar's stake for $5 bn; may exceed FDI limit

Last updated: 01 April 2011

Vodafone buys Essars stake for $5 bn; may exceed FDI limit UK-based Vodafone on Thursdayacquired 33 per cent stake of its Indian partner Essar in the joint venture Vodafone Essar for USD 5 billion and may go for a new ally or opt for public offering to remain FDI compliant. Currently we (Vodafone) are having 42 per cent stake in Vodafone Essar and after acquiring Essars additional 33 per cent stake in the joint venture our holding will go up to over 75 per cent, Vodafones
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Rajiv

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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