SEARCH

Business » Companies

Updated: February 7, 2012 02:20 IST

Vodafone stake buy only for short-term gain: Ajay Piramal

Special Correspondent
print   ·   T  T  
Piramal Group Chairman Ajay Piramal addresses a news conference in Mumbai on Monday.
PTI Piramal Group Chairman Ajay Piramal addresses a news conference in Mumbai on Monday.

The Piramal Group's decision to double its stake to 11 per cent in Vodafone India Ltd. (VIL) is to maximise its return on investment in the short-term.

Addressing the media here on Monday, Piramal Group Chairman Ajay Piramal said the company was looking at a 18-24 month horizon. Piramal would exit Vodafone either at the time of VIL's initial public offering (IPO) over the next 12-18 months or by stake sale to a third party with Vodafone having the first right of refusal.

More In: Companies | Business

Economic Survey

More Economic Survey »