Essar is all set to have a important discussion with Vodafone but before the discussion, the Indian firm has stated on Monday that Essar wants ‘partnership of equals’ and ‘joint management’ in Hutch’s operation in India. Hutch is India’s fourth largest telecom operator.

Essar CEO Vikash Saraf said that Essar is the founder partner and shareholder. The company would continue as a strategic partner not an investment partner in HEL.

He said;

The basic theory of the partnership with Vodafone is partnership of equals. Both the companies will have a meaningful role. This will be the basis for any agreement with Vodafone.

According to the reports, Essar promoters Ruias and Vodafone are likely to discuss the matter later this week.

Earlier, Vodafone had clinched the deal to get 67 per cent stake in HEL for $11.1 billion. Later, Vodafone CEO Arun Sarin had come to India to discuss the future agenda with Ruisas.

After the 3-day visit Sarin had showed his confidence about signing the agreement soon.

Saraf said further on Vodafone’s response that Essar group has communicated its views. Vodafone have also expressed almost the same views by saying that Essar can add lot of value.

He said;

This partnership is in previous stage. There would be a shareholder agreement in the place to deal all aspects like partners’ joint working or either of the partner quitting.

The choice is with Vodafone to either partner or buy Essar out. The second choice is ruled out. Now, it is clear that Essar is not there to be just the financial partner.

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