PE Funds, Reliance Com May Consider Buying Hutch In India: WSJ

The news is a bit speculative at the moment. The Wall Street Journal reports that buyout funds Blackstone and Texas Pacific Group could consider buying the Indian assets of the Hong Kong-based Hutchison Telecommunications International. Hutch controls about 67 per cent of Hutchison Essar in India. The Journal further adds that the deal could be as big as $8 billion. Hutch operates GSM services in 18 circles and has over 18 million subscribers.
It also adds Blackstone may join hands with Reliance Communications Ltd for making the bid for Hutch. Reliance is planning an entry into the GSM services, so a bid to acquire Hutch may be a good strategy. However, I am not sure how that will work as there will be regulatory issues like intracircle mergers etc.
Anyways, the news is as of now unconfirmed and so speculative.

Comments have been disabled for this post