Vodafone finally got the Hutch-Essar's shares
Finally after months of ups and down, It is vodafone who acquired 67% partnership in Hutch-Essar . We all know that Hutch-Essar is 4th largest telecom company in India and was a partnership between Hutchison and Essar. Since Hutchison's share is now in hand of Vodafone so lets what they will call it now?
Still will it be hutch ?
On the other hand Vodafone is already having 10% partnership in Airtel, but I think they will have to sell it off because according to Indian rules, a foreign investment is can't be more than 74% in India.
but I really wanted Reliance to take over .. also Hinduja brothers were in bid.. but Vodafone took it.. lets see what next.
Re: Vodafone finally got the Hutch-Essar's shares
well Vodaphone is supposed to be a company that lives on High rates in west .. i.e it is the most expencice service provider.
Re: Vodafone finally got the Hutch-Essar's shares
Ya I know that , lets see what will they do in India .. may be nothing at all and keep following Hutch-Essar's current Policy.
Re: Vodafone finally got the Hutch-Essar's shares
they have to ... as the market trends in india do not except high cost.
Re: Vodafone finally got the Hutch-Essar's shares
They now want to have complete control over Hutch as they want Essar to sell of their partnership.
Re: Vodafone finally got the Hutch-Essar's shares
hmmm .... things seem a bit complicated ... but you said Non-indian companies cant have more than 74% shares.
Re: Vodafone finally got the Hutch-Essar's shares
Now . Vodafone says that by 2010 , they will be the biggest telecom player in Indian market.
They said that their plan is to introduce world class services in India and also slowly they will start working under brand name "Vodafone" only.
So.. no more hutch in few days.