According to the Financial Times on 28 December, the British group Vodafone has made an offer for the purchase of the Indian mobile telephony operator Hutchison Essar, estimating the companies value to be between US$17 and US$18 billion. The offer was made to Hutchison Telecommunications International, a subsidiary of the Hong Kong conglomerate Hutchison Whampoa owner of 67% of Hutchison Essar, reportes the newspaper quoting anonymous sources close to the negotiations. But Vodafone is not the only contender. The Indian group Essar, owner of 33% of Hutchison Essar, has proposed to its partners that they buy back their shares for $11 billion. The group has...

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