Essar exits Vodafone JV

dsneih

da Mafia
Messages
2,449
Location
Mumbai
its 75 % only .. VF can't own it fully ...now VF need to search some local partner who can buy these 25 %
 

mhsabir

Xclusive
Messages
19,763
Location
Chennai
Guys... You are pretty close.... I believe its 74% - but I guess the point is the same... Vodafone need someone to hold the remaining 26% sack
 


dsneih

da Mafia
Messages
2,449
Location
Mumbai
i had the same thing in mind but in news they mentioned below

Vodafone will take control of Essar's 33% of the Vodafone Essar Limited company, giving it 75% of the Indian operator overall.
 

dsneih

da Mafia
Messages
2,449
Location
Mumbai
67-33 is current partnership but they can raise the same upto 74 % so they need some one for 26 % i guess local partner mean some company but if public holding allowed then they will prefer the same as this will give the full control of company ...
 


mhsabir

Xclusive
Messages
19,763
Location
Chennai
I think they are capable of reaching till 74% on their own - If I am not wrong it was because Essar were not intending to sell that they did not reach 74 & not because they were incapable.
 

amish

Star gazer
Messages
24,805
Location
Mumbai
I think there must be some government rule, which will not allow such INDIRECT COMPLETE control. Esp. in case of communication field because then it wud be national threat, if one foreign country has complete control over communication.
 

mhsabir

Xclusive
Messages
19,763
Location
Chennai
There was a time when nothing was allowed & hence Coke had to move out & then again in mid-90s they initially allowed 49% then later increased to 74%
 

dsneih

da Mafia
Messages
2,449
Location
Mumbai
its FDI rule they can't go ahead for more than 74 % .. this limits is different from sector to sector .. for retail sector its 49 % limit ..

between .. Essar is already in this business under brand BPL/loop mobile .. i think there is controversies due to the same also ...

---------- Post added at 10:43 AM ---------- Previous post was at 10:35 AM ----------
 
Top