Vodafone could up Airtel stake

18 Jul 2006

UK-based Vodafone Group has confirmed that it is considering increasing its 10% stake in Indian telecoms provider Bharti Airtel. Vodafone Chief Executive Arun Sarin told India’s Business Standard that his company may increase its stake in Airtel as part of plans to double its revenues from emerging markets over the next five years, up from a current 15% of turnover. Vodafone came on board as a strategic partner when it purchased a direct stake in Airtel, plus an indirect 4.29% holding in its parent company Bharti Telecom, in October 2005 in a deal valued at USD1.5 billion.

India, Bharti Airtel, Vodafone Group