Telco Vodafone Essar, a JV between Indian conglomerate Essar Group and British mobile operator Vodafone, has sent a letter to telecom minister Kapil Sibal asking him to ensure that the new telecom policy will help create a fair and transparent regulatory…
Telco Vodafone Essar, a JV between Indian conglomerate Essar Group and British mobile operator Vodafone, has sent a letter to telecom minister Kapil Sibal asking him to ensure that the new telecom policy will help create a fair and transparent regulatory environment.
More specifically, Vodafone Essar is seeking clarifications on spectrum usage charges.
The details of the new policy are yet to be disclosed, but the government said it has drafted a strategic plan for the telecoms sector that includes spectrum sharing, M&A and the introduction of MVNOs.
In a separate report, Essar Group was reportedly still insisting a few days ago that its 33% stake in Vodafone Essar is worth more than the US$5bn buyout offer. The information was denied by an Essar spokesperson in early April.
When the JV was formed in 2007, Essar was given a put option whereby it could either sell its stake to Vodafone for US$5bn or at a market price to be determined by independent assessment.
But earlier this year, Vodafone criticised plans by Essar to carry out a reverse listing of one of its wholly-owned telecom business because it could affect the value of their JV.
