New Delhi: In order to step up diplomatic pressure, Vodafone CEO Arun Sarin arrived in Delhi on Wednesday early morning to meet top Government leaders.
Sarin will try to garner Government support for its bid for Hutch-Essar stake. He is expected to meet Prime Minister Manmohan Singh and Commerce Minister Kamal Nath.
He said it will make a firm bid for Hutch-Essar in next fortnight.
“We are thinking about it at this stage. So we will determine that over a period of time,” Sarin told reporters.
Nath has already spoken to EU Trade Commissioner Peter Mandelson on the issue and has said he was likely to meet Sarin on Wednesday.
EU's support for Vodafone comes within days of the UK-based firm's representatives meeting senior officials of Department of Telecom seeking clarity on FDI policies.
On the other hand, Egyptian telecom giant Orascom, has said that it is still in the race to acquire Hutchison Essar, although it is yet to make a firm bid.
The Egyptian government has also written to the Indian government seeking clarity on its stand.
Meanwhile Essar has also announced it is interested in buying out its foreign partner in Hutch-Essar, coinciding with UK's telecom giant Vodafone commencing due diligence for acquiring India's fourth largest mobile player.
Essar, by virtue of its 33 per cent stake in Hutch Essar Ltd (HEL), has three directors on the JV company's Board and thus access to all the operational, infrastructural and financial information about the joint venture.
Malaysia's Maxis Communications is also believed to be keen on acquiring Hutch-Essar.
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