| Shareholders' agreement announced, Ravi Ruia on Vodafone Plc board. |
| The Ruias of Essar have acquired significant concessions from global telecom major Vodafone, even as it announced the much-debated shareholders’ agreement in New Delhi today. |
| These include a favourable put option, a seat for Ravi Ruia on the Vodafone global board, veto rights, a comprehensive right of first refusal (ROFR), and the promise to use Essar’s proposed national and international long-distance infrastructure as well as assets of Essar Infrastructure Ltd, a specialised telecom tower company. |
| With an eye on becoming the leading mobile player in the country – it is currently India’s fourth-largest mobile service provider – Vodafone-Essar has drawn up a $5 billion investment plan for the next two and a half years. Read more at Business Standard |
