Hutch says no comment on Essar sale speculation

8 Dec 2006

Hutchison Telecommunications International Ltd (HTIL) has declined to comment on media reports that a number of private equity firms are looking to acquire its 67% stake in Indian mobile operator Hutchison Essar. Blackstone Group and Texas Pacific Group are among those reportedly considering an offer, in a deal that could be worth more than USD8 billion. ‘We will not comment on any market talk regarding the stake or assets sale of Hutchison Essar,’ a company spokeswoman told XFN-Asia.