Vodafone’s London team kicks off due diligence
ET has also learnt that Vodafone’s due diligence of HEL is under way as the final step before placing its bid for the Indian telecom company.
By Joji Thomas Philip, TNN |
NEW DELHI: Vodafone’s bid for a controlling stake in India’s fourth-largest mobile company Hutch Essar has reached a decisive stage with a high-level team from the UK-based communications major set to fly into Mumbai on Sunday night for discussions with the HEL management.
According to sources, senior Vodafone executives, accompanied by representatives from their audit firm Ernst & Young and legal firm Trilegal, are slated to hold detailed discussions with HEL officials on Monday and Tuesday at the latter’s Parel office. ET has also learnt that Vodafone’s due diligence of HEL is under way as the final step before placing its bid for the Indian telecom company.
Senior Vodafone executives are also scheduled to meet minister for communications and information technology Dayanidhi Maran and other government officials later this week to brief them about the developments. Last week, two Vodafone executives met the department of telecommunications officials for clarity on foreign direct investment regulations and procedures in India.
During this meeting, the company’s director of external affairs Matthew Kirk and director of international operations Neil Gough also made presentations on plans for India to telecom secretary Dinesh Mathur.
According to sources, senior Vodafone executives, accompanied by representatives from their audit firm Ernst & Young and legal firm Trilegal, are slated to hold detailed discussions with HEL officials on Monday and Tuesday at the latter’s Parel office. ET has also learnt that Vodafone’s due diligence of HEL is under way as the final step before placing its bid for the Indian telecom company.
Senior Vodafone executives are also scheduled to meet minister for communications and information technology Dayanidhi Maran and other government officials later this week to brief them about the developments. Last week, two Vodafone executives met the department of telecommunications officials for clarity on foreign direct investment regulations and procedures in India.
During this meeting, the company’s director of external affairs Matthew Kirk and director of international operations Neil Gough also made presentations on plans for India to telecom secretary Dinesh Mathur.
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