Essar, the 33 per cent stakeholder in mobile firm Hutch-Essar, today 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 and half hour meeting with Vodafone CEO Arun Sarin.
The race for Hutch-Essar
The Vodafone chief said he respects Ruias-promoted
Essar as partners and "will take the business forward together."
"I know Ruias for long. 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 Ruia family led by Essar Group Chairman Shashi Ruia.