Business Today

5 steps to here

Print Edition: May 15, 2011

1. March 2007 Vodafone buys Hutchison's 52% stake in Hutchison Essar for $11.17 billion. The company is renamed Vodafone Essar

Analjit Singh
Analjit Singh
2. September 2009 Minority shareholders, ex-CEO Asim Ghosh and Max India's Analjit Singh sell half their shareholding to Vodafone.

3. January 2011 Vodafone objects to Essar's move to place part of its 33% stake in a listed company, India Securities.

4. March 31, 2011 Vodafone agrees to pay Essar Group $5 billion for its 33% stake. It also plans an IPO in the future

Asim Ghosh
Asim Ghosh
5. April 11, 2011 Asim Ghosh sells his remaining 2.38% holding to Analjit Singh, whose stake rises to 6.24

-Anamika Butalia

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