Vodafone Sells Stake in Bharti for $200 Million
May 29 2015 - 2:51AM
Dow Jones News
By Sean McLain
NEW DELHI--Vodafone Group Plc sold its 4.2% stake in rival
Bharti Airtel for $200 million.
The British telecom giant said the stake was sold to Bharti
Enterprises, which is the parent of the Indian cellular
operator.
The sale follows a change in regulation from India's Department
of Telecommunications that prohibit companies from owning stake in
competing operators in a service area. Previously, telecom
operators were allowed to own up to 10% of a competing company.
Write to Sean McLain at sean.mclain@wsj.com
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