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Telecom major Vodafone has reportedly paid $1.9 billion (Rs 8,550 crore) to the Ruias-led Essar group as first tranche for buying a 22 per cent stake in their telecom joint venture, Vodafone-Essar. The first tranche paid today is half the valuation of the 22 per cent stake held by ETHL Communications Mauritus Holdings, which was fixed at $3.8 billion. The rest of the money will come in by November, when the entire deal is expected to be closed.
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