Essar Group may look at an IPO of Vodafone stake next year

Published on Thu, Jul 29, 2010 at 18:26 |  Source : CNBC-TV18

Updated at Thu, Jul 29, 2010 at 19:28  

Like this story, share it with millions of investors on M3
0
0
Share on Tumblr
Prashant Ruia, Group CEO, Essar Group

Excerpts from Reporter's Diary on CNBC-TV18 Watch the full show ยป

RELATED NEWS

The Essar Group today confirmed its interest in BP's assets spread across 4-5 countries in Africa. Group CEO Prashant Ruia told reporters that the process was in early stages and that it was pre-mature to talk about it.

 

Ruia added that they are competing with 12 other operators for BP's assets. "It is an early part of the process...BP is running a process for some of their assets. It is too premature to talk about it."

 

He said Essar Group may look at an initial public offering of its stake in Vodafone next year.

 

Oil assets:

Shishir Agarwal, CEO and MD, Essar Exploration, said total recoverable reserves in coal-bed methane blocks are 3-5 million cubic meters. "Production has started for 90-1 lakh cubic meters."

 

Agarwal said the first phase investment is USD 35 million. "Total investment for drilling is USD 375 million over the next two years."

 

  

More on Moneycontrol

Trending News

Business News

Next-gen Macbooks may come with Retina display
Will RBI regulation prevent a gold loan bubble? "Will RBI regulation prevent a gold loan bubble?"

Obama On US Budget Proposes Replacing AMT With Buffett Rule

The latest earning numbers FIRST on CNBC-TV18
Videos
Interviews

Feb 13 2012, 22:41 | Source: CNBC-TV18

Govt, TRAI should map solutions for telecom sector: Experts  

Feb 13 2012, 19:27 | Source: CNBC-TV18

'Diverse offerings in power helping to withstand headwinds'  

Subscribe to

Moneycontrol Newsletters

Moneycontrol.com offers you a choice of various sectoral and other newsletters for FREE!

Follow moneycontrol.com