The Essar party wanna to over thier agreement of $5-billion transaction with Vodafone .And after that they will continue with the UK-based partner with full bundle of their terms and conditions of their agreement.And the .Essar Group may ask for $700 million more for 33% essar group selling purpose.The Essar also approaches state bank of India for this proposal..
"Essar fully intends to honour all its rights and obligations under the various agreements with Vodafone and also expects Vodafone to do the same. This will be done in accordance with all applicable laws and regulatory approvals," Essar said in a statement.. "Essar continues to be a shareholder in Vodafone Essar with all its rights and obligations until the transaction is concluded, which is expected by the end of November," the statement added.
Vodafone spokesperson said, "We are aware of the RBI guidelines and for the current transaction, we comply with them. We don't see any change as far as the deal is concerned." "The contract which is legally binding for us and Essar states that we can exercise our call option and Essar exercising its put option. The $5-billion deal is still there. There is nothing more to that," Vodafone spokesperson told PTI.
0 comments:
Post a Comment