The worlds second largest mobile operator Vodafone has out bidded the other competitors Reliance Infocomm, Ruias, and Hindujas in a auction to acquire controlling stake in Hutchison Max popularly known as Hutch the fourth largest mobile operator in India.
Vodafone offer gives hutch essar a total value, including debt, of US$ 18.8 billions. Sources said that Hindujas were the highest bidders at US$ 20 billion, but the deal went to Vodafone on other parameters. Reliance bidded below US$ 17 billion despite creating much hype in last month.
Vodafone has managed to stay put the major investors in Hutch the Ruia's of Essar, Analjit Singh and Asim Ghosh who together control 12.26% of the Hutch.
Industry analysts value the bid to be on premium side upto 45%. Effect of this deal has soared the valuation of other indian telcos also.
2 comments:
I am happy that Reliance did not get the deal. Otherwise they would play the trick on millions of subscribers of hutch, as they are presently doing it for reliance customers.
For full details of how I got cheated by Reliance, please visit the following link
http://reliancemobilevictimsblog.blogspot.com/
Thank you friend for your valuable suggestions. There have been some further developments, which I have duly posted in the reliancevictimsblog. As a result of my capacity to make a lot of noises, reliance has come down from their original stand and they have offered me a compromise proposal, which I have accepted.
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