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October 31, 2005
Vodafone re-enters Indian Market
World's largest mobile phone company, UK's Vodafone bought 10% stake in India's Bharti Tele-Ventures Ltd., for $1.5 billion. India is the world's fastest growing mobile phone market.
This would be Vodafone's second foray into India market after it sold stake on a previous venture in 2003.
Bharti Tele-Ventures, which is India's largest mobile operator, is 31% owned by Singapore Telecom.
India's mobile companies attract approximately 2.5 million new subscribers monthly. The current base of 65 million subscribers is expected to double in the next few years driven by strong growth in India's middle class population.
Posted by admin at October 31, 2005 04:03 AM