Essar says no intent to sell its stake

New Delhi, Feb 15 (UNI) Essar Group has firmly said it has no intent to selling its shares in Hutchison Essar.

''It is Hutchison that is selling its shares, Essar has no plan to exit the company,'' a statement said tonight.

The UK mobile carrier Vodafone had bid 11.1 billion dollars for the Hong Kong-based Hutchison Telecom's (HTIL) 67 per cent stake in the mobile venture.

However, Vodafone has approached Essar to discuss a possible partnership with them, it added.

Essar is a founding shareholder of Hutchison Essar and the group sees telecom as a core part of its business portfolio for the long term, the Group said in a statement.

''We will take a decision with regard to our future course of action in due course of time and in the best interests of the group,'' it said.

UNI