Essar May Challenge Vodafone’s Hutchison Bid

I expected this… Wireless Week reports that Sashi and Ravi Ruia, who hold a 33 percent minority stake in Hutchison Essar, may challenge the deal for Hutchison to sell to Vodafone for $18.8 billion dollars. The brothers claim they had the right of first refusal for Hutchison’s stake, but Hutchison countered that the right only applied to other Indian bidders, and sold to Vodafone anyway. The brothers may be successful, or not, or may decide that Vodafone’s plans benefit them.

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