Naguib Sawiris, CEO of Orascom, which is open to acquire Hutch-Essar, said during his India visit that "they (Essar) felt bad because they thought they were not consulted before (the Egyptian firm) came on board.
Amid reports of security concerns over Egypt's Orascom acquiring indirect stake in Hutch-Essar, Pakistan telecom regulator Shahzada Alam Malik wondered on Friday how a mobile operator working in his country could be a threat to India.
Egyptian mobile operator Orascom has said it was open to sell a part of its 19.3 per cent stake in Hutchison Telecom International Ltd, a promoter of Indian cellular joint venture Hutch-Essar.
Egyptian telecom firm Orascom's CEO Naguib Sawiris has resigned from the board of Hong Kong-based Hutchison Telecom, days before its shareholders are scheduled to consider the sale of its stake in Indian mobile venture Hutch-Essar to Vodafone.
For Orascom, the real jewel in HTIL's crown was Hutchison Essar, India's fourth largest mobile phone company and a natural complement to its existing operations in Pakistan and Bangladesh.
A day after Vodafone announced its $11.1 billion acquisition of Hutchison's equity holding in Hutch-Essar, India's fourth largest mobile service provider, it received an unsolicited advice from the Egyptian CEO of Orascom, Naguib Sawiris.
The Foreign Investment Promotion Board on Friday cleared 68 per cent foreign shareholding in cellular company Hutchison Essar, including the 10 per cent indirect stake held by Egyptian telecom operator Orascom.
Reliance Telecom and Bharti Airtel have entered the second round of qualifying process for a GSM-based mobile license in Qatar that the Gulf country plans to award by October this year.
The race for acquiring India's third largest mobile services provider Hutch, has hotted up with Reliance Communications backed by an US equity funder
Hutchison holds a 52 percent stake in Hutchison Essar and the Ruias-promoted Essar group 33 percent, while the rest is held by Analjit Singh of Max India and Hutchison Essar CEO Asim Ghosh.
After Pyongyang tests a missile potentially capable of reaching the US, Dr Rajaram Panda explores the realistic -- and peaceful -- options before Donald Trump and the international community at large.