Friday, October 28, 2005

Vodafone buys 10% of Bharti

Reuters reports: Vodafone buys 10 percent of India's Bharti

In what is probably the biggest news in Indian mobile sector, Vodafone has bought out the stake held by Warburg Pincus (which has made massive returns all across on its investment in Bharti) and some more from Bharti enterprises (the promoter), to get to 10% in Bharti Televentures.

I am sure this would have been done after discussions between Bharti and Singtel, the other major investor in Bharti Televentures. What would be Singtel's long term interest in Bharti? Vodafone is a more aggressive player in the mobile segment - much more than Singtel.

It would be interesting to watch...

This is certainly bound to push up Bharti's stock price.

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