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Sunday, January 23, 2011

Vodafone, the British telecoms firm, has said that it had not objected to Essar conducting an Initial Public Offer (IPO) of the Essar's stake in Vodafone Essar, India’s third-largest telecoms company based on subscribers

In 2007, Vodafone had bought a controlling stake in mobile business in India of Hutchison Whampoa Ltd., in which Essar had been a partner. Mr. Prashant Ruia, the Chief Executive of Essar Group had said that plans for an Initial Public Offering by Vodafone Essar is in a preliminary stage

Stay tuned to the latest updates on Vodafone Essar IPO!

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