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Article: A new frontier; Private equity in India.
- Article from:
- The Economist (US)
- Article date:
- September 10, 2005
CopyrightCOPYRIGHT 2005 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Another good connection
Is India big enough for the industry's heavyweights?
IT IS such stuff as private-equity dreams are made on. Between 1999 and 2001, America's Warburg Pincus, one of the biggest firms in the business, invested $292m in Bharti Tele-ventures, an Indian firm riding the crest of a national tidal wave of mobile telephony. From August last year to this March, Warburg Pincus "exited" most of its investment, yielding just over $1 billion. Its residual stake in Bharti is worth some $700m. As deals in Europe and America become dauntingly competitive, India--along with China--has become global private equity's new frontier.
The ...