Vodafone wins Hutch Essar, valuing it at $19 bn

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Reuters Tags : Posted: Monday , Feb 12, 2007 at 0202 hrs

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The deal for Hutch Essar could see Vodafone selling its stake in Bharti, as it could have a controlling stake in Bharti`s rival.

Foreign investors are limited to owning 74 per cent of an Indian mobile operator, and so Vodafone will have to seek a local partner for Hutch Essar.

Hutchison Telecom is a unit of the Hutchison Whampoa Ltd. conglomerate controlled by Hong Kong billionaire Li Ka-shing.

-SANTOSH MENON & HIMANGSHU WATTS

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