Vodafone wins the battle for India’s Hutch Essar
UK telecom giant Vodafone has finally won the telecom battle to acquire India’s fourth largest mobile service provider Hutch-Essar. Vodafone has emerged as the top bidder for Hutchison Telecom’s majority stake in the company beating Anil Ambani group’s Reliance Communications, Essar and Hinduja Group.
Vodafone won the bid for an estimated enterprise value of US $19 billion (Rs 85,000 crores).
“Vodafone’s offer values Hutchison Essar at around $19 billion. This is a good price which reflects the premier position of Hutchison Essar as India’s leading operator,” Essar, said in a statement.
It also stated “We have been offered by Vodafone to be their partner. We are at the moment evaluating all our options in the best interest of the group.”
RSS |
Permanent Link
|
Del.icio.us
|
Cosmos
|
Digg
|
|
