No discrimination against British co, India assures EU
India has assured the European Union that British mobile phone company Vodafone will not be discriminated against in the Hutch-Essar takeover battle.
By TNN |
NEW DELHI: India has assured the European Union that British mobile phone company Vodafone will not be discriminated against in the Hutch-Essar takeover battle.
Commerce & industry minister Kamal Nath has said he has informed EU trade commissioner Peter Mandelson that India followed the best commercial practices by law, reports Our Bureau.
Speaking to the media on the sidelines of a meet organised by Ficci, Mr Kamal Nath confirmed on Tuesday that Mr Mandelson had called him up to discuss the possibility of Vodafone bidding for Hutch. “He wanted to understand the Indian regulatory regime. I told him that India has best commercial practices by law,” Mr Kamal Nath said.
The minister also said that he was likely to meet Vodafone chief executive Arun Sarin on Wednesday. Mr Sarin is expected to meet Prime Minister Manmohan Singh and IT & telecom minister Dayanidhi Maran. On Monday, the EU trade commissioner had called up the Indian minister to ensure that Vodafone gets a fair treatment in the contest.
Sources said that Mr Mandelson had clarified that he was not taking sides and not pushing Vodafone’s case. His only interest was to ensure that the same yardstick judges all bidders, including Vodafone.
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It may be recalled that India held discussions with EU when Mittal Steel had bid for Arcelor, and more recently, during the Tata’s bid for British steel company Corus.Start a SIP with as low as ₹500 with ET Money App!
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