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Bharti ups its ante to face Vodafone
The Chairman and Managing Director of Bharti Airtel, Mr Sunil Bharti Mittal, on Monday said that the company would up the ante knowing that Vodafone would come hard to grab more market share.
The Chairman and Managing Director of Bharti Airtel , Mr Sunil Bharti Mittal, on Monday said that the company would up the ante knowing that Vodafone would come hard to grab more market share.
Mr Mittal also said that Vodafone's partial exit from Bharti would allow Airtel to look at expanding outside India as it would not run the risk of having to compete with one of its own equity holder - Vodafone.
Restraint removed
"Now that Vodafone is out, we can compete with it in other markets. I think Bharti is ready to move outside India," Mr Mittal said.
Bharti Enterprises has bought back 5.6 per cent stake in Bharti Airtel from the UK-based Vodafone for $1.6 billion to be paid over 18 months.
The move comes after Vodafone emerged as the highest bidder for acquiring the 67 per cent stake held by the Hong Kong-based Hutchison Telecom International Ltd in Indian cellular services provider Hutchison Essar.
Bharti Enterprises has bought back 5.6 per cent stake in Bharti Airtel from the UK-based Vodafone for $1.6 billion to be paid over 18 months. 
