Hindujas say they are still in the fray for Hutch
07 Mar 2007
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Hindujas claim that they are still in the fray the for acquiring Hutchison's 67-per cent stake in Hutchison-Essar.
According to Srichand Hinduja, Hinduja group chairman, the group's bid was is open till April as they had bid $20 billion, he said. This is higher than UK-based Vodafone's bid of $19.3 billion, which has emerged successful in the race for Hutch-Essar.
This is for the first time the Hindujas have come on record about the amount they have bid.
Hindujas had a 5.11 -per cent stake in Hutch Essar, which they had sold off, as they felt the minority stake in the company would get them nowhere but would be interested I a controlling stake.
