Notes to the Consolidated Financial Statements
Notes 11-15
- 11. Property, plant and equipment
- 12. Principal subsidiary undertakings
- 13. Investments in joint ventures
- 14. Investments in associated undertakings
- 15. Other investments
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) shareholdings |
|---|---|---|---|
| Cellco Partnership(2) | Mobile network operator | USA | 45.0 |
| Société Française du Radiotéléphone S.A. | Mobile network and fixed line operator | France | 44.0 |
| Notes: | |
|---|---|
| (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).
| 2008 £m |
2007 £m |
2006 £m |
|
|---|---|---|---|
| Revenue | 13,630 | 12,919 | 12,480 |
| Share of result in associated undertakings | 2,876 | 2,728 | 2,428 |
| 2008 £m |
2007 £m |
|
|---|---|---|
| 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 |