Sashi Ruia meets Maran, Chidambaram
Guess who was met finance minister P Chidambaram just minutes after his interaction with Vodafone CEO Arun Sarin? None other than Essar Group chairman Sashi Ruia, who owns 33% in Hutchison Essar.
By TNN |
Guess who was met finance minister P Chidambaram just minutes after his interaction with Vodafone CEO Arun Sarin? None other than Essar Group chairman Sashi Ruia, who owns 33% in Hutchison Essar and whose bankers started “confirmatory diligence” for buying out Hutchison’s 67% stake in the company.
The order got reversed in the evening. It was Sashi Ruia, who met Maran first, following which Arun Sarin and his team apprised the minister of the company’s plans for India.
Even as industry sources say that Mr Ruia’s visit was related to the Hutch Essar transaction and speculate that the controversial right of first refusal clause would have figured in his meetings, Essar sources described Mr Ruia’s visits as “courtesy calls”.
Market watchers say Essar has a history of roping government support for its moves as well as disputes.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
