Vodafone wants to own India unit
(City A.M. (UK) Via Acquire Media NewsEdge) Vodafone Group has sought approval from the authorities to raise its stake in the India unit for 101.41bn rupees ($1.03bn) it said yesterday, after India allowed foreign companies to take full ownership of local carriers. Vodafone, which entered India in 2007 by buying Hutchison Whampoa's local cellular assets in an $11bn deal, directly and indirectly owns a combined 84.5 per cent of Vodafone India, the country's second biggest telecoms company by users.
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