Essar Group has informed that it has not taken any decision on the option to sell its stake in the joint venture with the British based mobile phone operator, Vodafone. Essar had 33% of stake in this telecom joint venture with Vodafone. However, the company has still time till May 2011 to make the decision on the JV.

Vodafone, with a view to assemble 6.2 billion dollars or in other words four billion pounds, had announced last week that it is going to end its stakes in the firm China Mobile.

It has entered into a contract with China Telecom; the world's largest telecom operator is anticipated to mark just the beginning of the sequence of deals selling off the shares it owns in various companies in the approaching months by Vodafone.

Though the company has not decided upon the manner of the sale- whether it should appoint an investor who would sell the shares tactically or sell them directly in the Hong Kong share market which lists China mobile, yet this contract is estimated to be sanctioned within the next month.