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Hindujas, Qatar Telecom to put in joint bid for India's Hutchison Essar - report


Published : Wed, 07 Feb 2007 06:28
By : Agencies
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BOMBAY (XFN-ASIA) - The Hinduja group has teamed up with Qatar Telecom to jointly bid for the 67 pct stake held by Hutchison Telecommunications International Ltd (HTIL) in Hutchison Essar Ltd, the Economic Times reported, citing unnamed sources.

It said the two are likely to make a 16 bln usd offer for the HTIL stake.

Hinduja Group CFO Prabal Banerji refused to comment, the paper said.

Qatar Telecom was earlier looking at partnering the Essar Group, which holds 33 pct stake in Hutchison Essar, the paper noted.

UK's Vodafone Group PLC is among others said to be readying a bid for Hutchison Essar.

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