Hutch may be looking to sell its India stake and Essar may already be preparing to buy it.
New Delhi: The Bombay High Court directed Hutchison Essar and its joint venture partner Essar to settle their dispute on selling stake in BPL mobile through arbitration.
Hutch may be looking to sell its India stake and Essar may already be preparing to buy it.
Hutch may be talking to players like ORASCOM and its strategic partners.
Egyptian company ORASCOM holds an indirect stake of 13 per cent in Hutch Essar and wants to gain larger foothold in the Indian market.
Essar could be interested in the Hutch stake if up for sale.
Hutch-Essar valuation will top $10 billion.
Essar may invite or could be in preparatory talks with private equity companies to buy this stake.
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