{"id":3839,"date":"2007-02-12T23:17:13","date_gmt":"2007-02-12T23:17:13","guid":{"rendered":"http:\/\/www.patheos.com\/blogs\/drishtikone\/2007\/02\/business-battles-brits-strike-back-indian-general\/"},"modified":"2007-02-12T23:17:13","modified_gmt":"2007-02-12T23:17:13","slug":"business-battles-brits-strike-back-indian-general","status":"publish","type":"post","link":"https:\/\/www.patheos.com\/blogs\/drishtikone\/2007\/02\/business-battles-brits-strike-back-indian-general\/","title":{"rendered":"Business Battles: The Brits Strike back with an Indian General!"},"content":{"rendered":"\n<\/head>

Ok.. this is as crazy as it can possibly get! Tatas<\/a> buy Corus \u2013 the Brit Steel major for .. $11.x billion. The Brits \u2013 led by their Indian Born CEO \u2013 strike back with Vodafone buying Hutch for \u2026. $11.x billion!! Hmm interesting! When Friedman twisted Nilekani\u2019s quote to call the world Flat.. he wasn\u2019t joking! Stakes are getting more equitable than most of us realize! In just 3 years Indian billionaires have risen from just 2 to 28! The same can happen to a Thailand or Zambia if the educated class takes off.<\/p>\n

\n

After months of pitched battle, British mobile telecom major Vodafone Monday formally said it is buying a 67-percent stake in India\u2019s fourth largest mobile firm Hutch-Essar for $11.1 billion and targeting a 25-percent market share in the country in five years.<\/span><\/p>\n

The London-headquartered company, that submitted a formal bid to the Hutchison Whampoa group midnight Friday, had earlier offered to pay $19 billion for the entire 100 percent-stake in Hutch-Essar. Vodafone has also agreed to take over a debt worth $2 billion.<\/p>\n

The remaining 33 percent stake in the mobile phone company is with the Ruias of Essar. Vodafone has offered to buy that stake as well.<\/p>\n

\"Vodafone announces it has agreed to acquire companies that control a 67-percent interest in Hutch Essar from Hutchison Telecom International Ltd. (HTIL) for a cash consideration of $11.1 billion,\" a Vodafone statement said.<\/p>\n

For Vodafone, the acquisition will make India their third largest mobile phone market after Germany and the US with over 23 million subscribers and a 16.4 percent national market share, industry sources said.<\/p>\n

\"This announcement is clear evidence of how we are executing our strategy of developing our presence in emerging markets,\" said the India-born chief executive of Vodafone Arun Sarin.<\/p>\n

Story Link<\/a><\/p>\n<\/blockquote>\n

Powered by<\/em> Qumana<\/a><\/p>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"

Ok.. this is as crazy as it can possibly get! Tatas<\/a> buy Corus – the Brit Steel major for .. $11.x billion. The Brits – led by their Indian Born CEO – strike back with Vodafone buying Hutch for …. $11.x billion!! Hmm interesting! When Friedman twisted Nilekani’s quote to call the world Flat.. he wasn’t joking! Stakes are getting more equitable than most of us realize! In just 3 years Indian billionaires have risen from just 2 to 28! The same can happen to a Thailand or Zambia if the educated class takes off.<\/p>\n","protected":false},"author":1517,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,28,33],"tags":[],"class_list":["post-3839","post","type-post","status-publish","format-standard","hentry","category-europe","category-globalization","category-india"],"yoast_head":"\nBusiness Battles: The Brits Strike back with an Indian General!<\/title>\n<meta name=\"description\" content=\"Ok.. this is as crazy as it can possibly get! Tatas buy Corus - the Brit Steel major for .. $11.x billion. The Brits - led by their Indian Born CEO - strike back with Vodafone buying Hutch for .... $11.x billion!! Hmm interesting! When Friedman twisted Nilekani's quote to call the world Flat.. he wasn't joking! Stakes are getting more equitable than most of us realize! 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