British telecom giant Vodafone has bagged the 67% Hutch Telecom International (HTIL) stake in Hutch-Essar at an enterprise value of $19.3 billion (approx Rs 86,000 crore) which comes to $794 per share.
Earlier, Vodafone emerged as the top bidder for majority stake in India's fourth largest mobile player Hutch-Essar, pipping Anil Ambani Group's Reliance Communications, a consortium led by Hindujas, and Essar, whose top brass is in London presumably talking to the British telecom giant.
Meanwhile, Hindujas has congratulated Arun Sarin, Vodafone CEO, for his acquisition of Hutch-Essar.
While, the winner emerged after a board meeting of HTIL, the process of declaring the highest bidder got delayed till Essar, which had asserted its right of first refusal along with its bid, mulled various options in its agreement with the foreign partner.
source
Now it gives pleasure to all indians... now all r waiting for new services, new mobile deals and competitive prices...
Earlier, Vodafone emerged as the top bidder for majority stake in India's fourth largest mobile player Hutch-Essar, pipping Anil Ambani Group's Reliance Communications, a consortium led by Hindujas, and Essar, whose top brass is in London presumably talking to the British telecom giant.
Meanwhile, Hindujas has congratulated Arun Sarin, Vodafone CEO, for his acquisition of Hutch-Essar.
While, the winner emerged after a board meeting of HTIL, the process of declaring the highest bidder got delayed till Essar, which had asserted its right of first refusal along with its bid, mulled various options in its agreement with the foreign partner.
source
Now it gives pleasure to all indians... now all r waiting for new services, new mobile deals and competitive prices...
