Vodafone India

Piramal sells stake in Vodafone India

Indian conglomerate Piramal Industries has sold its 11 per cent stake in Vodafone’s Indian operation for almost $1.5bn, generating a 50 per cent return on an investment made during the 2012 financial year. The stake was sold to Prime Metals Ltd, an indirect subsidiary of Vodafone Group, Piramal said.

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