Vodafone is locking horns with Irish mobile phone billionaire Denis O'Brien in the tranquil surroundings of the Bahamas in the fight to grab control of the country's sole telecoms company. Vodafone is understood to be mulling involvement in a consortium run by JP Morgan's private equity arm which has tabled an offer for a controlling stake in the Bahamas Telecommunications Company (BTC). Vodafone would provide the technical know-how for the venture, rather than cash, but in return receive a stake in the business. The government is initially looking to sell 51% of the business.
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