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Vondafone Moves To Own All of Its Indian Assets



Vodafone Group Plc is seeking approval from authorities to raise its current stake in its India unit for a reported 101.41 billion rupees or $1.65 billion. The moves comes after India has announced that it is allowing foreign companies to take full ownership of local carriers. Vondafone entered the Indian market back in 2007 when they bought Hutchison Whampoa's cellular assets for $11 billion. Vodafone India is already the country second largest telecommunication company by users. The rule change came in ownership came in August, before foreign companies were limited to have stake no larger than 74% in Indian carriers.