Vodafone CEO Arun Sarin is likely to meet the Essar Group top brass when he visits Mumbai on Thursday. While the main agenda is to visit the corporate headquarters of Hutch-Essar, sources said Sarin would meet Essar Group chairman Shashi Ruia and vice chairman Ravi Ruia.
Vodafone has offered to buyout Essar, the 33 per cent stakeholder in Hutch-Essar, from the venture on the same terms given for Hutchison Telecom's 67 per cent stake.
Sarin told an editors conference earlier in the day that he would like Essar to decide on the offer within 3-5 weeks, but added that Vodafone would respect their choice if they want to concentrate on their other businesses of oil refining, steel and shipping.
He also said that it was Vodafone's view and their lawyers opinion that Essar does not have Right of First Refusal, adding that Vodafone would consult Essar on decision making as a 33 per cent stakeholder should be. Hutch-Essar managing director Asim Ghosh and Analjit Singh of Max accompanied Sarin during his visit to New Delhi.
