War for Hutch gets expensive.
Economic Times (New Delhi, India), December, 2006
Dec. 25--MUMBAI, India -- The race for Hutch Essar has entered its penultimate lap with Goldman Sachs shortlisting telecom giant Vodafone, Anil Ambani's Reliance Communications, the Ruias of Essar, Maxis of Malaysia and Egypt's Orascom for Hutchison Whampoa's 67 percent stake in its Indian joint venture.
As reported by TOI first, Goldman is the New York-headquartered global investment bank that has been hired by Hong Kong-based hyper-billionaire Li Kashing's Hutchison to mid-wife the sale of its holding in Hutch Essar.
Although there's no word on the pecking order of the shortlist, indications are that the serious contenders are Vodafone, the world's largest mobile phone company, Anil Ambani's R-Comm and the Ruias, who by virtue of their 33 percent...
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