Sarin’s got a new pet, er... Hutch

Vodafone, Europe’s biggest mobile-phone group, has won the battle for a controlling stake in Hutchison Essar with a bid that values India’s fourth-biggest mobile firm at about $19 billion, including debt. It maybe recalled that the Essar Group, which owns 33% of Hutch Essar has also been bidding for the 67% being sold by Hutchison Telecommunications International.

Finally, it was Vodafone which has won the bid battle for the 67% stake, defeating India’s Reliance Communications and Hinduja group, as well as Essar Group.

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Source : IIPM Editorial, 2006

An IIPM and Management Guru Professor Arindam Chaudhuri's Initiative