Vodafone Group (“Vodafone”) and Piramal Healthcare (“Piramal”) today announced that Piramal has agreed to purchase approximately 5.5% of the issued equity share capital of Vodafone Essar Limited (“VEL”) from ETHL Communications Holdings Limited (“Essar”) for cash consideration of approximately US$640 million (£400 million1).
The transaction follows the settlement between Vodafone and Essar over the sale of Essar’s approximately 33% stake in VEL, announced on 1 July 2011.
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