Hutchison Telecom to take a decision in next 15 days

Hutchison Telecom to take a decision in next 15 days

Hong Kong-based Hutchison Telecom International has said that they would take a decision within the next 15 days over the bids for the Hutch mobile service provider in India.

The company owns around 67% in the Indian telecom operator.

Goldman Sachs has received four bids for their stake in the company. This includes the UK based mobile giant Vodafone.

The other parties who have submitted their bids are Essar, Reliance Communications and Maxis of Malaysia.

Market sources claim that Reliance has offered to buy the stake in cash and stock to the seller. Others have offered cash payments for the stake.

Hutchison and Essar are also facing their own internal disputes over the claims that the latter has the “first right of refusal”. Ruias claim they have the first right of refusal on the sale of Hutchison’s stake in the joint venture. Hutchison does not agree with this claim.