BEIJING, Jan. 10 (Xinhuanet) -- Vodafone Group will soon make a firm bid for Hong Kong-based Hutchison Whampoa's controlling stake in a leading Indian mobile phone company, according to the company's CEO.

    Arun Sarin, who is in New Delhi to meet with government officials to discuss the matter, said on Wednesday his company was also open to a partnership with Hutchison's Indian partner -- the Essar Group that holds a 33 percent stake in Hutchison Essar Ltd.

    Hutchison Whampoa's holding company and its associates hold the remaining 67 percent stake.

    Vodafone, the world's largest mobile phone company, hopes to make a formal bid in early February, said Sarin.

    "It will take several weeks," he said after meeting with India's Commerce and Industry Minister Kamal Nath. When asked if there would be a bid by this month end, Sarin said, "a bit later than that."

    Sarin declined to comment on any offer price or details of how the company planned to raise money for the proposed purchase.

    Vodafone emerged a front runner last week after making an approach that reportedly valued all of Hutchison Essar Ltd. at between 17 billion U.S. dollars and 18 billion dollars, which would make it the biggest-ever corporate takeover in Indian history.

    An Indian official, who attended Sarin's meeting with Nath, told The Associated Press the talks focused on regulations that apply to foreign investment in telecommunications.

    There was no discussion on valuation of Hutchison Essar and commercial details of the deal, said the official, who didn't want to be named because of the sensitive nature of the issue. He said, however, that Vodafone appeared "serious" about the deal.

    Sarin also confirmed that the company has begun examining the books of Hutchison Essar. Earlier, Indian media reported Vodafone had hired accounting firm Ernst & Young and New Delhi-based law firm Trilegal to assist in the due diligence process.

    The acquisition would help Vodafone gain a strong presence in one of the world's fastest growing mobile phone markets, but a bid could start a bidding war.

    Reliance Communications, India's second-largest mobile phone company, and the London-based Hinduja brothers also have expressed interest. Malaysia's Maxis Communications Bhd. and Egypt's Orascom Telecommunications are also reported to be in the running.

    As of Nov. 30, Hutchison Essar accounted for 16 percent of India's 143 million mobile and wireless phone connections. India has been adding 4 million or more new connections each month over the past one year.

    Commerce Minister Nath said the deal should be transparent.

    "These kinds of takeovers should follow the best commercial practices and be in the interest of all stakeholders involved," he said.

    Sarin also planned to meet with India's Communications Minister Dayanidhi Maran and other government officials later Wednesday.

    (Agencies)