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Vodafone objects to Essar's reverse listing of ETH into ISL

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  • Published On: January 18, 2011
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Vodafone has complained to the market regulator Sebi and the Bombay Stock Exchange about its partner Essar's plans to transfer 11 per cent stake to another listed group firm saying it was not disclosed by the Indian partner. According to Vodafone, if the reverse merger is allowed, value of that holding could be misinterpreted as fair market value of Vodafone-Essar.
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