Essar fought over

Mobile phone colossus Vodafone Group has said it is interested in acquiring a controlling stake in Hutchison Essar, India’s fourth-largest mobile phone operator

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By  Administrator Published  December 29, 2006

Mobile phone colossus Vodafone Group has said it is interested in acquiring a controlling stake in Hutchison Essar, India’s fourth-largest mobile phone operator.

In an announcement to the London Stock Exchange, Vodafone confirmed its interest in the Indian company.

“The board of Vodafone continues to believe the mobile market in India has great potential and is therefore considering the acquisition of a controlling interest in Hutchison Essar,” the firm said.

The mobile phone giant may have a fight on its hands to secure the stake, however, as at least three other firms are also rumoured to be interested in buying parent company’s Hutchison Telecommunications International 67% stake, including India-based Reliance Communications, India’s second largest mobile phone operator.

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