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
15. Other investments
Other investments comprise the following, all of which are classified as available-for-sale, with the exception of other debt and bonds, which are classified as loans and receivables, and cash held in restricted deposits.
| 2009 £m |
2008 £m |
|
|---|---|---|
| Listed securities: | ||
| Equity securities | 3,931 | 4,813 |
| Unlisted securities: | ||
| Equity securities | 833 | 949 |
| Public debt and bonds | 20 | 24 |
| Other debt and bonds | 2,094 | 1,352 |
| Cash held in restricted deposits | 182 | 229 |
| 7,060 | 7,367 |
The fair values of listed securities are based on quoted market prices and include the Group’s 3.2% investment in China Mobile Limited, which is listed on the Hong Kong and New York stock exchanges and incorporated under the laws of Hong Kong. China Mobile Limited is a mobile network operator and its principal place of operation is China.
Unlisted equity securities include a 26% interest in Bharti Infotel Private Limited, through which the Group has a 4.36% economic interest in Bharti Airtel Limited. Unlisted equity investments are recorded at fair value where appropriate, or at cost if their fair value cannot be reliably measured as there is no active market upon which they are traded.
For public debt and bonds and cash held in restricted deposits, the carrying amount approximates fair value.
Other debt and bonds include preferred equity and a subordinated loan received as part of the disposal of Vodafone Japan to SoftBank. The fair value of these instruments cannot be reliably measured as there is no active market in which these are traded.