Essar

Vodafone bags Hutch-Essar with a $19.3 bn offer ( As published in wwwagencygfaqs.com)

BUSINESS STANDARD
BS Reporters
NEW DELHI/MUMBAI

British
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telecom giant Vodafone today emerged victorious in the battle for Hutchison Essar Ltd, India's third largest private mobile services operator, with an offer that gives the company an enterprise value of about $19.3 billion.

Ending the two-month-long drama, the Hutchison Telecommunications International Board met in London today and chose Vodafone over the Anil Ambani-controlled Reliance Communications, the Ruias of Essar and the Hindujas for sale of its 67 per cent stake in Hutchison Essar.