MUMBAI:
Essar, the 33 per cent stakeholder in mobile firm Hutch-Essar, on Thursday said it would stay put and run the business along with new majority partner Vodafone.
"We are not going to exit the business. We will run it together,'' Essar Group Vice Chairman Ravi Ruia told reporters after an over two hour meeting with Vodafone CEO Arun Sarin. The Vodafone chief said he respected Ruias-promoted Essar as partners and "will take the business forward together.''
"I know the Ruias form long ago i respect their partnership. They have created value in the business. We are now trying to iron out issues and will take the business forward together,'' he said.
The comments follow the intense discussion between the Vodafone team and the Ruia family led by Essar Group Chairman Shashi Ruia.
The meeting took place at the Ruias' residence in the posh Walkeshwar area.
PTI
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