Vodafone wins Hutch-Essar for $19 bn
[Image source: CNN-IBN]
Multiple news channels in India are reporting that Vodaphone has won the bidding war for Hutch-Essar India. Of course, none of the participants have disclosed anything at this time, announcements are expected on Monday Feb 12, 2007:
CNN-IBN article on Vodaphone - Hutch-Essar
NDTV article on Vodaphone - Hutch-Essar
This puts the enterprise value / sub at over $790.
The other prospective bidders were: Reliance Communications, Essar group and the Hindujas.
What remains to be seen is if Essar continues to hold onto all of their stake as well as if Vodaphone exits Bharti-Airtel completely.
Technorati Tags: vodaphone, hutch, essar, india, telecom, gsm, mobile
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I think its official
http://fonearena.com/blog/what-will-vodafone-do-with-hutch.html