Date:10/01/2007 URL: http://www.thehindubusinessline.com/2007/01/10/stories/2007011005631000.htm

Vodafone chief may meet Mittal over Airtel stake

Our Bureau

New Delhi , Jan 9

The Vodafone CEO, Mr Arun Sarin, may meet Mr Sunil Mittal, Chairman of Bharti Airtel, to initiate disengagement talks prior to acquiring Hutchison Essar. Vodafone will have to give up its 10 per cent stake in Bharti Airtel if it acquires Hutchison Essar due to regulatory conditions. Mr Sarin is scheduled to arrive in India on Wednesday.

Mr Mittal said on Tuesday that though Vodafone had not begun any discussion with Bharti, the two companies might meet after Mr Sarin's arrival in Delhi.

"No, we have not started any disengagement talk. We have not come to that point as yet. They (Vodafone) have to clear the other thing first (due diligence and final decision over the acquisition), then we will get into some discussion. If Mr Sarin is in town, he is got to meet me. He is my partner," said Mr Mittal.

On the waiver of the non-compete clause, which binds Vodafone not to enter Indian market till one year after it sells its stake in Bharti, Mr Mittal said, "They (Vodafone) have not spoken to us in that regard."

Mr Sarin is expected to meet top Government officials including the Prime Minister, the Commerce Minister and the Communications and IT Minister to muster support for Vodafone's proposal. While Vodafone has begun due diligence, other companies including Reliance Communications, Essar, Hindujas, Orascom and Maxis are also in the fray to acquire Hutchison Essar.