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Notes to the Consolidated Financial Statements

Notes 11-15

14. Investments in associated undertakings

The Company’s principal associated undertakings all have share capital consisting solely of ordinary shares, unless otherwise stated, and are all indirectly held. The country of incorporation or registration of all associated undertakings is also their principal place of operation.

Name Principal activity Country of incorporation or registration Percentage(1)
Cellco Partnership(2) Mobile network operator USA 45.0
Société Française du Radiotéléphone S.A. Mobile network and fixed line operator France 44.0
(1) Rounded to nearest tenth of one percent.
(2) Cellco Partnership trades under the name Verizon Wireless. The principal office of the partnership is One Verizon Way, Basking Ridge, New Jersey, 07920 USA while the registered office is CSC – the Corporation Service Company, 2711 Centreville Road, Suite 400, Wilmington, DE 19808, USA.

The Group’s share of the aggregated financial information of equity accounted associated undertakings is set out below. The comparative information includes the share of results in Belgacom Mobile S.A. and Swisscom Mobile A.G. up to the date of their disposal on 3 November 2006 and 20 December 2006, respectively (see note 29).

Revenue 13,630 12,919 12,480
Share of result in associated undertakings 2,876 2,728 2,428
Non-current assets 25,951 25,120
Current assets 2,546 1,998
Share of total assets 28,497 27,118
Non-current liabilities 1,830 2,067
Current liabilities 3,736 4,438
Minority interests 386 386
Share of total liabilities and minority interests 5,952 6,891
Share of equity shareholders’ funds in associated undertakings 22,545 20,227