Exclusive!!!!!!!!- Vodafone acquires Hutch
Posted by tggokul on February 11, 2007
For those who have been following the Hutch saga, even though it has not been officially announced yet, it seems pretty clear at this point that Vodafone is the front runner in acquiring Hutch. One of my inside sources has in fact confirmed it, but I still am yet to get a second source to confirm it. So it is not yet official. A press conference by Reliance ( another suitor for Hutch) has been arranged shortly.
My sources say that the Bid is close to 17-18 billion USD. It is still unclear whether it is for 100% control ( which would include buying out the minority partner Essar) or 67% ( which was Hutchinson’s share in the Hutch-Essar partnership).
Be sure to check in here for regular updates.