Hutch is now Vodafone in India
The operator logo on my mobile started showing Vodafone today.
World’s leading mobile operator, Vodafone, has started using its brand across India from today. Vodafone had acquired Hutch for nearly $11 billion in February this year.
Vodafone will spend around Rs 200 crore ($50 million) on the biggest brand change exercise in the country, covering nearly 35 [...]
Hutch becomes third largest operator
GSM operators added 50 lakh (5 million) subscribers in May, taking the all-India GSM subscriber base to 13.06 crore (130 million).
Bharti Airtel = 18.51 lakh new, 4.07 crore total
BSNL = 2.38 lakh new, 2.79 crore total
Hutch-Essar = 15.06 lakh new, 2.92 crore total
Idea = 7.03 lakh new, 1.52 crore total
Aircel = 64.08 lakh total
Spice [...]
DoCoMo calls off deal with Hutch
Japanese mobile giant NTT DoCoMo has annulled its contract with Hutch Essar (HEL) to provide its
Vodafone-Hutch update
Vodafone purchased Hutchison Telecommunications’ 67 per cent stake in Hutchison Essar for $11.1 billion (Rs 48,540 cr), which values the Hutch Essar at $18.8 billion, including debt.
Hindu Businessline quotes Sunil Mittal of Bharti Airtel saying that the company would up the ante knowing that Vodafone would come hard to grab more market share.
When asked to [...]
Vodafone bags Hutch for $19 billion
Vodafone has acquired Hutch for an estimated enterprise value of over US $19 billion (Rs 85,000 crores). Vodafone is the world’s largest mobile phone group by revenue and Hutch is India’s fourth largest mobile operator.
CNN-IBN reports that Vodaphone has offered Essar to become a partner firm. Essar welcomed the offer and said it is indeed [...]
Hutchison Whampoa may sell off telecom business
Hong Kong-based Hutchison Whampoa group is believed to be considering a sale of its telecom business, including its highly lucrative Indian operations.
Sources close to Hutchison Whampoa said the Hong Kong-based giant is willing to consider a sale. While no formal mandate has been given, Goldman Sachs and ABN Amro are believed to have talked to [...]
Hutch shelves IPO
Differences between the two JV partners of Hutch — Hutchison International and Essar Group — have led to the scrapping of plans to list Hutchison Essar.
Hutchison group MD Canning Fok was quoted as saying:
“the original plan to list the business was largely to fulfil the commitment made by the group to JV partner Essar.
When you [...]
Essar calls off BPL Mumbai sale to Hutch
The Essar group has called off a proposed merger of BPL’s operations in Mumbai with Hutchison Essar citing non-receipt of government approvals.
The share purchase agreement signed between BPL Mobile and Hutchison Essar was conditional on the parties receiving DoT approvals by July 31. Since the approvals were not received until this date, the purchase was [...]
Hutch FDI gets past Orascom hurdle
The Foreign Investment Promotion Board (FIPB) has cleared Hutch Essar’s proposal to raise FDI from 49% to 68%, notwithstanding the strong opposition from National Security Advisor MK Narayanan and the company’s Indian partner, Essar.
The foreign investment includes the contentious 10% indirect shareholding of Egypt-based Orascom, which it holds by virtue of its 19.3% equity in [...]
Hutch Haryana in trouble
Hutch is in trouble with authorities in Haryana because close to 50% its users in the circle have been issued SIM cards on the basis of forged identity documents.
Superintendent of Police Kaithal, Navdeep Singh Virk told media that the total subscriber base of Hutch in Haryana Circle as on April 30, 2006 is 3,73,801 and [...]
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