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Vodafone the winner in Essar JV tussle

Vodafone the winner in Essar JV tussle

Essar has abandoned plans to inject part of its 33 per cent stake in the Vodafone Essar venture into a listed shell company, after objections by its partner, Vodafone. Instead, the partners have agreed to appoint two investment banks to value the stake in the Indian mobile operator, as a precursor to Essar deciding whether to sell it to Vodafone.

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