UK-based Vodafone Group plc, the largest mobile services provider in the world, is considering increasing its equity stake in Bharti Airtel to 20% as part of its plans to double revenues from emerging markets over the next three years.
Sources said the hike could be sewn up “in 2-3 months�.
In an email statement from the UK, a Vodafone spokesman confirmed the intent: “We are interested in increasing our stake in Bharti Airtel. However, any increase is dependent on other shareholdings being available for purchase. Such shareholdings are not currently available.�
That’s partly because Bharti Airtel has already hit the 74% ceiling for foreign investment as a result of a change in the way such shareholding is accounted for.
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