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.