Vodafone mulls partnership with RCOM for Hutchison Essar, papers say

11 Jan 2007

India’s Economic Times is reporting that Vodafone is keeping all options open in its quest to acquire Hutchison Essar, including the possibility of a partnership with one or more rival suitors. ‘We are a partnership kind of people, we are open to everything,’ Vodafone CEO Arun Sarin told the media in answer to a specific question on whether the company was open to partnering Anil Ambani Group company Reliance Communications (RCOM). Sarin had earlier described Hutchison Essar’s 33% stakeholder Essar as ‘a good partner’ and expressed readiness to join hands with it too. Sarin added that his company expected to complete due diligence on Hutchison Essar within the next couple of weeks, and that a formal bid could be submitted then.