Vodafone Bags Hutch

British telecom giant Vodafone bagged the 67% Hutchison Telecom International (HTIL) stake in Hutch-Essar for $19.3 billion, which is approximately Rs 86,000 crore. Vodafone emerged victorious in the bidding process, pipping Reliance, Hinduja and Essar. Essar sources expressed satisfaction with the bidding.

According to reports, Vodafone has offered to make Essar its partner and Essar is currently evaluating the offer. Meanwhile, Hindujas has congratulated Vodafone CEO Arun Sarin and his team on the successful acquisition of Hutch.