A spokesman for UK mobile operator Vodafone has confirmed Indian press reports that its local partner Essar Group is considering listing its 33% stake in their joint venture, Vodafone Essar. Andy Halford, Vodafone’s chief financial officer, was yesterday…
A spokesman for UK mobile operator Vodafone has confirmed Indian press reports that its local partner Essar Group is considering listing its 33% stake in their joint venture, Vodafone Essar.
Andy Halford, Vodafone’s chief financial officer, was yesterday widely cited as saying that he was in negotiations with Essar over its potential exit, however, his spokesman insisted that no date had been set and that talks were still in the “early days”.
Vodafone bought two-thirds of the group from Hong-Kong-based conglomerate Hutchison Whampoa in 2007.
Halford’s comments about the potential listing came on the sidelines of Bombay High Court, where the company is fighting a reported US$2bn tax bill over its Vodafone Essar stake acquisition.
