Vodafone, a British mobile phone company, finally acquired a stake in Hutchison Essar in May, paying US$180m less than the agreed price of US$11.08 billion.
Hutchison Essar’s parent company in Hong Kong, Hutchison Telecom, will be paid US$10.9 billion, after the long running and closely scrutinized agreement was completed.
Vodafone, the world’s biggest mobile phone company, bought 52% of Hutchison Essar while options will give it another 15%, still below the 74% cap for foreign investors in telecoms.
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