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Monday, July 4, 2011

Essar agrees to sell stake in India’s Vodafone Essar network

Vodafone Group, Essar Communications (Mauritius) Limited and ETHL Communications Holdings Limited have agreed terms that’ll see ECML and ECHL selling their shareholdings in Vodafone Essar Limited. ECML's subsidiaries held 22% of Vodafone Essar Ltd, while ECHL has a 11% shareholding.

It’ll mark the end of a four-year partnership between Vodafone and Essar in India.

Vodafone will own 74% of Vodafone Essar Limited when the deal is completed; the remaining 26% will be majority-owned and controlled by Indian shareholders.

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Author: The Fonecast
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Categories: Networks and operators, NewsNumber of views: 658

Tags: vodafoneindia

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