BTVL

AcronymDefinition
BTVLBharti Tele-Ventures, Ltd. (telecommunications; India)
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BTVL also reported today that negotiations are underway with Starwood Hotels to operate the property under a long-term management agreement.
material rights in BTVL, including the right to appoint two directors to
the BTVL Board and, consequently, the Group expects to proportionately consolidate BTVL.
Commenting on the Transaction, Sunil Bharti Mittal, Chairman and Group Managing Director of BTVL, said:
8% customer market share - one of only three Indian mobile operators with a nationwide footprint - in the six months ended September 2005, BTVL's mobile business delivered year-on-year growth of 62% in customers, 58% in revenues and 64% in EBITDA - in the six months ended September 2005, BTVL's fixed line business delivered year-on year growth of 39% in customers, 30% in revenues and 34% in EBITDA -- Active role in the partnership - the Transaction delivers material rights in BTVL as a result of which Vodafone is expected to proportionately consolidate BTVL - Vodafone will have the right to appoint two directors to the BTVL Board The acquisition of shares from Warburg Pincus is not subject to regulatory approval and is expected to close by the end of November 2005.