Vodafone buys out Piramal Enterprises stake for Rs 8,900 crore

Apr 10 2014, 19:06 IST
Comments 0
Newbury, England-based Vodafone carried out the deal through its indirect subsidiary, Prime Metals Ltd, Piramal Enterprises said. Reuters Newbury, England-based Vodafone carried out the deal through its indirect subsidiary, Prime Metals Ltd, Piramal Enterprises said. Reuters
SummaryPiramal Enterprises said in a statement it will get Rs 1,960 per share.

shares rose 3.73 per cent to Rs 556.15 at the close on the BSE, the highest level since January 22.

"The equity purchase in Vodafone was consistent with our objective of making investments that offer opportunity to generate attractive long-term return on equity," Piramal Group Chairman Ajay Piramal said.

"I am glad to say that we have delivered against our targeted returns with this investment," he added.

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...