vodafone-steps-carefully-around-essar

Vodafone steps carefully around Essar

Vodafone soft-pedals on some of its post acquisition announcements as discussions begin with the Essar group, and the Ruia family, regarding its 33% stake in Hutchison Essar.

By Sameera Anand

February 21, 2007

Vodafone may have been premature in announcing network and other infrastructure sharing with Bharti as part of its acquisition of Hutchison Essar. The Ruia family, which controls the Essar group, say they weren't consulted before this critical business decision was finalised. But the larger problem looming for Vodafone relates to EssarÆs 33% stake in the telco, and what the Ruias family plans to do with this stake.

The Ruia family were the Indian partners of Li Ka-Shing's Hutchison Telecommunications in the Hutchison Essar joint venture. At various critical junctures over the last few months, the family was said to have been dissatisfied with the way the sale of the business was being conducted. The Ruias...

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