Vodafone’s offer values Hutchison Essar at around US $ 19 billion (Rs.85,000 crores). This is a good price which reflects the premier position of Hutchison Essar as India’s leading operator. Essar owns 33% of the company and we are delighted that Hutchison and Essar have together created this value. We have been offered by Vodafone to be their partner. We are at the moment evaluating all our options in the best interest of the Group.  

In response to Vodafone's announcement about acquisition of 67% of equity stake in Hutchison Essar from Hutchison, Mr. Ravi Ruia, Vice Chairman, Essar Group said, "Essar Group is a strategic player in the infrastructure development in India and neighbouring countries. Telecommunication is a core business for Essar Group and we continue to create value in this sector both within India and globally.