Piramal to sell Vodafone stake next year

31 Oct 2013

Vodafone’s plans to take full control of its Indian unit will have to wait until next financial year as Piramal Group, which owns around 11% of Vodafone India, will not sell before 1 April 2014, the Economic Times writes, citing Piramal’s chairman Ajay Piramal. The pharmaceuticals firm said that Vodafone’s plans were a move in the right direction, and that the company was content with its returns. Previously, Piramal had planned to exit the cellco via an initial public offering (IPO) of its shares.

India, Vodafone India