Hutchison increases stake in Indian telecom venture
Hutchison Telecommunications International acquires 5.11% stake in unlisted Indian telecom company Hutchison Essar for $450 million taking direct and indirect shareholding to 67%.
Hutchison Telecommunications International HTIL confirmed on Friday, June 30 HTILÆs acquisition of a 5.11% stake in unlisted Indian telecom company Hutchison Essar from Hinduja TMT for $450 million. The stake was acquired by Hutchison Telecommunications India, an indirect wholly owned subsidiary of HTIL, which is an associate company of Hutchison Whampoa. HTIL will now directly and indirectly control 67% of Hutchison Essar.
Dennis Lui, CEO of Hutchison Telecom says ôThis transaction reaffirms our commitment and interest in...
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