Vodafone recently announced it has agreed to buy a 10% stake in Indian operator Bharti Tele-ventures for US$1.5 billion by acquiring a 5.6% stake held by Warburg Pincus LLC, while the remaining 4.4% stake will be acquired by buying into Bharti Enterprises, the holding company of Bharti Tele-ventures. Through this investment Vodafone returns to India, which it left in 2003 by selling of a stake in a relatively small mobile phone company. Vodafone mentioned an improved regulatory climate in the Indian mobile phone market as one of the main reasons to make the acquisition. In October the Indian government agreed to raise the limit on foreign investments in Indian telecom companies to 74%.