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Piramal acquires 5.5% in Vodafone

Recently, Ajay Piramal of Piramal Healthcare has purchased 5.5% stake in India’s third largest mobile service provider Vodafone Essar for Rs 2900 crore, or $640 million. Piramal Healthcare struck the deal at a discount valuing British telecom giant Vodafone’s India unit at Rs 52,000 crore ($11.6 billion). With this, Vodafone has now complied with regulations ..

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