Financial Times FT.com

Sale dispute over shares in Essar phone unit intensifies

By Joe Leahy in Mumbai

Published: September 9 2008 03:00 | Last updated: September 9 2008 03:00

A dispute between Vodafone and its local Indian partner is deepening after the UK-based company won an order blocking the sale of shares of a mobile phone unit controlled by the Essar group.

An arbitration panel has ordered the Essar group to freeze the sale of any shares of the mobile unit, BPL Mobile Communications, including those of one of its most important subsidiaries, Loop Telecom.

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