Vodafone to Offload Bharti Stake

The Economic Times has reported that Vodafone Group will transfer its 5.6% stake in Bharti Airtel back to a Bharti Group company for USD1.6 billion by November 2008. The newspaper also reveals that Vodafone will invest USD1 billion in India in 2007, nearly 20% of its global expenditure. Earlier this year Vodafone took a controlling 67% stake in Hutchison Essar for USD10.9 billion.

In separate but related news, DNA Money quotes Vodafone CEO Arun Sarin as saying that the Hutchison logo will be replaced by the Vodafone one before the end of 2007.