Vodafone CEO Arun Sarin said on Thursday that there is a limit up to which Vodafone can go to acquire a stake in Hutch Essar.
Reacting to the reports that Hutch Essar could be valued up to $21 billion, Mr Sarin said that there is only a certain valuation to which Vodafone will go and not beyond it. Mr Sarin told reporters on the last day of his two-day visit to India that the company is looking at various prospective allies and called Essar a natural partner.
Mr Sarin said that the company is talking to several companies. "We will see who we can have as partner on a long-term basis," he added. Mr Sarin said the company is also open to partnership with other suitors including Reliance Communications.
Mr Sarin said he would come back to India in the next few weeks but gave no time frame for a formal bid to acquire Hutch Essar.
Meanwhile, in another development Reliance Communications chairman Anil Ambani on Thursday met finance minister P. Chidambaram and communications minister Dayanidhi Maran. Mr Ambani didn’t say anything to the media about his meetings. Even the official spokespersons of the two ministries refused to say anything on these meetings. It is being presumed that Mr Ambani briefed the two ministers about Reliance Communications plans and to gain government’s support in its endeavour.
Reacting to the reports that Hutch Essar could be valued up to $21 billion, Mr Sarin said that there is only a certain valuation to which Vodafone will go and not beyond it. Mr Sarin told reporters on the last day of his two-day visit to India that the company is looking at various prospective allies and called Essar a natural partner.
Mr Sarin said that the company is talking to several companies. "We will see who we can have as partner on a long-term basis," he added. Mr Sarin said the company is also open to partnership with other suitors including Reliance Communications.
Mr Sarin said he would come back to India in the next few weeks but gave no time frame for a formal bid to acquire Hutch Essar.
Meanwhile, in another development Reliance Communications chairman Anil Ambani on Thursday met finance minister P. Chidambaram and communications minister Dayanidhi Maran. Mr Ambani didn’t say anything to the media about his meetings. Even the official spokespersons of the two ministries refused to say anything on these meetings. It is being presumed that Mr Ambani briefed the two ministers about Reliance Communications plans and to gain government’s support in its endeavour.