Vodafone buys Hutch Essar

Publié le par Jean Arnal

Vodafone will pay $11bn in cash for the 67% stake of Hutchison Telecom in Hutchison Essar, and plans to acquire the remaining 33% stake from the Essar group or to be their partner. It has agreed to allow the Bharti Group to buy 5.6% of the interest, or $ 1.6bn, it has in Bharti Airtel, and announced a deal with Airtel to share their respective network infrastructure in India. Hutchison Essar becomes its third largest unit, after Germany and US, and brings 24m customers and a 16.5% market share in a fast growing emerging market. Vodafone hopes to complete the deal in the two next months. The market reacted positively to the move, and the Vodafone share rose almost 2% on the London Stock Exchange.

Publié dans Top stories

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