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Vodafone picks up a 10% stake in Bharti

Submitted by Karthik on 29 October, 2005 - 20:01

UK based Vodafone has bought a 10.05% stake in Bharti Televentures Limited - owners of the brand Airtel - India's largest mobile operator. The deal worth USD 1.5 billion, is said to be the largest ever foreign investment in India, and marks Vodafone's second foray into the Indian market. The British giant had previously invested in RPG Cellular, but sold its stake to Aircel in 2003.

Incidentally, Vodafone's current CEO is an Indian - Arun Sarin.

Complete Story: Deccan Herald, Economic Times, The Times, The Guardian.