London - Britain's Vodafone plans to invest as much as $2bn to buy out minority shareholders in Vodafone India, the Financial Times reported on Monday.
Vodafone will file an application this month with India's foreign investment promotion board to seek clearance for the investment, the Financial Times reported, citing two people familiar with the situation.
Vodafone could not immediately be reached for comment.
The FT said the size of the investment suggested that the world's second-largest telecoms operator will not up its stake to 100%.
In July, India approved raising the foreign investment limit in the telecom sector to 100 percent from 74% in a bid to lure capital inflows, prop up a sliding currency and boost growth.
The Financial Times said Vodafone is considering buying out some minority investors including billionaire industrialist Ajay Piramal, who holds 11% stake in Vodafone India.
Vodafone owns about 64% of Vodafone India, while 25% is controlled by undisclosed minority shareholders, who are understood to include Analjit Singh, chairman of Vodafone India, the FT said.
Vodafone will file an application this month with India's foreign investment promotion board to seek clearance for the investment, the Financial Times reported, citing two people familiar with the situation.
Vodafone could not immediately be reached for comment.
The FT said the size of the investment suggested that the world's second-largest telecoms operator will not up its stake to 100%.
In July, India approved raising the foreign investment limit in the telecom sector to 100 percent from 74% in a bid to lure capital inflows, prop up a sliding currency and boost growth.
The Financial Times said Vodafone is considering buying out some minority investors including billionaire industrialist Ajay Piramal, who holds 11% stake in Vodafone India.
Vodafone owns about 64% of Vodafone India, while 25% is controlled by undisclosed minority shareholders, who are understood to include Analjit Singh, chairman of Vodafone India, the FT said.