Vodafone buys 10% stake in Bharti

Posted on | October 28, 2005 |

Vodafone Group, one of the largest mobile companies in the world, has entered the Indian telecom scene by acquiring a 10% stake in Bharti Televentures for Rs 6,700 crore ($1.5 billion).

Vodafone picked up 5.65% stake from Warburg Pincus and 4.4% through Bharti Enterprises. Bharti Enterprises maintains a controlling interest of 45.9 per cent in the company through its subsidiary, Bharti Telecom Ltd. With the final sale of its stake, Warburg Pincus has now completely exited its position in the company.

This is big news indeed, also the single largest foreign investment in India so far.

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