THE VODAFONE THREAD

All of a sudden Vodafone is in favour with Standard Life, well, well, well:

LONDON (AFX) - Standard Life, one of the biggest shareholders in Vodafone
PLC, has backed the mobile phone giant's plan to bid for a controlling stake in
Indian operator Hutchison Essar, according to newspaper reports.
The Times and the Daily Telegraph both reported that the fund manager, which
has a 1.7 pct stake in Vodafone, has added its support to that given by other
large investors, such as State Street.
Both papers cited Wesley McCoy, investment director for UK equities at
Standard Life.
The comments came as the bidding war for the 67 pct stake in Hutchison Essar
owned by Hong Kong's Hutchsion Whampoa gathers momentum.
Yesterday, India's second-largest mobile network, Reliance Communications,
admitted it was mulling a bid for Hutchison Essar, potentially joining forces
with US private equity firm Kohlberg Kravis Roberts, according to the Times.
And there is mounting speculation that India's Essar, which holds the other
33 pct, may table its own bid.