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Vodafone to pay $400 million more to buy 33% in Essar

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Vodafone said it has sealed a long-awaited deal to buy out its partner Essar from their Indian mobile joint venture for $5.46 billion, ending a highly fractious relationship.The British company will purchase the 33 percent stake owned by a collection of Essar companies, giving it a majority 74 percent shareholding in the venture.