Vodafone Essar, a joint venture between Vodafone Group and India’s Essar Group, has invited bids from investment banks for a possible initial public offering which could hit the markets in the next one year or so, four bankers with direct knowledge in the matter said Monday. Essar is considering selling a part or all its stake via the IPO, the bankers told Dow Jones Newswires, asking not to be named.
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