New Delhi: Commerce and Industry Minister Kamal Nath on Wednesday asked Vodafone to follow best commercial practises in its bid to acquire Hutch-Essar.
The Minister said this when the India-born CEO of the UK telecom giant Arun Sarin met him to discuss regulatory issues relating to acquisition of Hutch-Essar.
PTI quoted Nath as saying, "It (a deal) should be done in a transparent manner in accordance with best commercial practices... and in the best interest of all stakeholders".
Sarin told reporters after the meeting the talks were "fruitful" and that "formal bidding was still a few weeks away".
Nath has already spoken to EU Trade Commissioner Peter Mandelson on the issue.
EU's support for Vodafone comes within days of the UK-based firm's representatives meeting senior officials of Department of Telecom seeking clarity on Foreign Direct Investment (FDI) policies.
Sarin, who arrived in the early hours of Wednesday morning, presumably discussed FDI policy in telecom sector, besides regulatory issues with the Minister.
He is also scheduled to meet Communications Minister Dayanidhi Maran.
On whether he sought clarifications from Nath on FDI regulations in India, Sarin said: "Regulations are clear".
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