Hutchison’s 52% stake in Hutchison Essar Ltd. seems to be gathering a high level of interest amongst the telecom players and equally with PE funds. The Ruias are believed to be looking at buying their partners stake, for which they plan to approach a few banks, as reported by Business Standard.
The race is already on with a number of players lining up for the stake including Reliance Communications in tie up with a few PE funds, Egyptian telecom giant Orascom and
The Anil Ambani groups Reliance Commnications has reportedly tied up with four American private equity funds -- Blackstone, Texas Pacific Group, KKR and Carlyle, who collectively have equity investments of $100 billion. Reliance Communications would endeavor to be the majority domestic partner if the bid comes through reported the Economic Times.
Orascom, which has over 19 per cent stake in Hong Kong-based HTIL is understood to have appointed Deutsche Bank as their adviser while Standard Chartered is supposedly advising
Goldman Sachs is the advisor to Hutchison and will evaluate all the bids
Go to article from The Economic Times
Go to article from Business Standard
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