Vodafone pushes $1.5B Bharti deal
A Reuters newswire article, via CNN/Money, reports that:
UK-based mobile phone company Vodafone Group Plc returned to India on Friday with a $1.5 billion deal to buy 10 percent of the country's top mobile phone company Bharti Tele-Ventures Ltd.
Vodafone, the world's largest mobile phone company by revenue, said it would have preferred to buy a larger stake in Bharti but dismissed suggestions that the small economic holding would leave it with too little leverage and no dividends. "We expect dividends from this company in the next couple of years," Chief Executive Arun Sarin told a London conference call, adding that Vodafone would have similar rights to those of larger Bharti shareholder Singapore Telecommunications.
posted by Fergie @ 10/28/2005 01:12:00 PM
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