The Hindu Business Line : Vodafone may join race for Hutch

According to industry sources, Vodafone could be interested in the Indian cellular company, but there was no official confirmation on the issue either from Hutchison Essar or Vodafone.

An Essar spokesperson said that it was speculation, while Vodafone said that the company does not comment on such issues.

However, industry sources said that the Ruias, who own the Essar Group, were in England though it could not be confirmed whether they were in that country to meet Vodafone officials.

Vodafone currently owns 10 per cent stake in Bharti Airtel and will have to exit Bharti in the event of acquiring Hutchison Essar.

Sources in Bharti said that Vodafone was capable of buying out Hutch Essar in the next 48 hours, though the British company had not given any such indication to the Bharti promoters yet.

Bharti has, meanwhile, clarified that it is not interested in buying Hutchison Essar.

Besides Vodafone, Egypt's Orascom could also be in the race. Orascom already has 10 per cent stake in Hutchison Essar and is keen to increase its stake provided there is more clarity on FDI policy.

Only Reliance and Maxis have confirmed that they are interested.

While Reliance is looking to foray into the GSM cellular segment through Hutch Essar, for Maxis the acquisition could be a better option than taking fresh licences at a time when there is crunch in spectrum.

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