Bharti welcomes Vodafone's decision to abstain from board meet
By PTI |
Highlights
NEW DELHI: Bharti Airtel on Tuesday welcomed the decision of the Directors of Vodafone to abstain from its Board meeting, in view of the UK-based telecom major's interest in acquiring rival Hutch-Essar.
"Their (Vodafone) directors had abstained from the Board meeting. It is a responsible company and it shows their high standards," Airtel Joint-Managing Director and CFO Akhil Gupta told reporters here.
He said Bharti Airtel received a communication from Vodafone on its bid for Hutch-Essar but no other communication was shared except this.
Vodafone, which holds 9.9 per cent stake in Bharti Airtel, is one of the main suitors for Hutch-Essar along with Anil Ambani-promoted Reliance Communications, Hinduja Brothers and Malaysian telecom Maxis Telecom.
Earlier this month, Singapore's leading telecom provider Singtel said it was interested in acquiring Vodafone's stake in Bharti at "right terms". Singtel already holds around 31 per cent stake in Bharti.
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Vodafone, the world's largest mobile player, is expected to announce a formal bid for Hutch-Essar early next month.Start a SIP with as low as ₹500 with ET Money App!
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