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Last Updated: Friday, 30 March 2007, 09:45 GMT 10:45 UK
Delay for Vodafone's India deal
Arun Sarin
Vodafone boss Arun Sarin is confident the deal will go ahead.
Indian regulators have delayed their decision on whether to clear Vodafone's $11.1bn (5.7bn) deal to take a controlling stake in Hutchison Essar.

They have asked for more time to ensure the move will not put too much of Hutchison into foreign hands, contravening Indian investment rules.

However, Vodafone said it was confident it would satisfy the requirements and could complete the deal.

Chief executive Arun Sarin said that approval was only weeks away.

Vodafone is buying a 67% stake in the firm.

India's Foreign Investment Promotion Board was examining if the shareholding structure broke regulations allowing foreign ownership of up to 74% in a domestic telecoms firm.




SEE ALSO
Vodafone buys Indian mobile firm
11 Feb 07 |  Business
Vodafone targets Indian takeover
10 Jan 07 |  Business
Vodafone in India telecoms battle
28 Dec 06 |  Business
Vodafone 'eyes Indian expansion'
21 Dec 06 |  Business

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