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NEW DELHI, April 10 (Reuters) - Vodafone Group Plc said it expected to close on Friday a deal to buy an 11 percentstake in its Indian business from minority partner PiramalEnterprises Ltd, giving it full ownership.
Piramal said on Thursday it had agreed to sell its 11percent stake to the British group for 89 billion rupees ($1.48billion).
A Vodafone spokesman separately said the group had alreadycompleted a transaction to buy about a 4.5 percent stake in thebusiness from Indian businessman Analjit Singh.
The deals are part of Vodafone's plan announced last Octoberto take full control of Vodafone India Ltd for $1.7 billion,following a rule change allowing foreign carriers to fully-own their Indian subsidiaries.
Vodafone, which entered India in 2007 by buying HutchisonWhampoa's local cellular assets in a $11 billion deal,directly and indirectly owns a combined 84.5 percent of VodafoneIndia, the country's No.2 telecoms company by users and revenue.
Piramal had bought the 11 percent stake in Vodafone India intwo tranches during the financial year to March 2012 for 58.64billion rupees. It is selling the stake to Prime Metals Ltd,which it said is an indirect subsidiary of Vodafone Group.
Piramal shares closed 2.9 percent higher on Thursday, havingrisen as much as 7.1 percent during the session.($1 = 60.1150 Indian Rupees) (Reporting by Devidutta Tripathy. Editing by Jane Merriman)