Also in the news: number portability in India; a name change for Unitech; an update of the $23 billion merger that's keeping the financial community on tenterhooks; and the iPhone in Korea.
Vodafone, which currently holds a 51.6 percent direct stake in Essar, is set to buy stock from two investors with which it has option arrangements. The terms of the deal don't appear to reflect Essar's true market value, as the transaction, on the open market, would value the whole of Essar at about $3 billion. Essar boasted nearly 81 million customers at the end of August, and generated revenues of £755 million ($1.22 billion) in the three months to the end of June 2009.
— Ray Le Maistre, International News Editor, Light Reading