The Hutch Saga continues
Submitted by Varun Krish on December 22, 2006 – 4:02 pm
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The rumors have started again. Reports suggest that the Hong Kong-based Hutchison Whampoa group is believed to be considering a sale of its telecom business. The sale might include Hutchison Essar as well. Hutch has postponed its IPO in India so many times.
Vodafone has shown interest in taking over Hutchison Essar. Its willing to offer upto 13.5 Billion Dollars for the deal. Reliance is reported to have teamed up with Blackstone Ventures and is willing to offer upto 15 Billion Dollars.
Its interesting to note that Vodafone has an 10% stake in Bharti Airtel which is valued at close to 1.4 Billion pounds. But there is a no compete attached to this deal.
We still need to wait and see the turn of events.
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