Piramal Healthcare acquires further 5.5% in Vodafone India

This completes the exit of the Essar group as a shareholder in Vodafone India Limited

BestMediaInfo Bureau | Delhi | February 6, 2012

Vodafone Group (“Vodafone”) and Piramal Healthcare (“Piramal”) have announced that Piramal has agreed to purchase approximately 5.5% of the issued equity share capital of Vodafone India Limited (“VIL”) from ETHL Communications Holdings Limited (“Essar”) for a cash consideration of approximately INR 30.07 billion (£385 million) taking Piramal's total shareholding in VIL to approximately 11%.

The transaction follows the settlement between Vodafone and Essar over the sale of Essar's approximately 33% stake in VIL, announced in July 2011, and the purchase by Piramal of approximately 5.5% of the issued share capital of VIL from Essar in August 2011. This completes the exit of the Essar group as a shareholder in VIL.

The transaction contemplates various exit mechanisms for Piramal, including both participation in a potential initial public offering of VIL and a sale of its stake to Vodafone.

Info@BestMediaInfo.com

Info@BestMediaInfo.com