Vodafone buys Hutch for $19 Billion

UK telecom giant Vodafone has emerged as the front-runner to buy a 67% stake in Hutchison Essar (HEL) at an enterprise value of $19.3 billion (Rs 86,000 crore. Hutchison Telecom, owned by Hong-Kong billionaire Li Ka-shing, is expected to issue a formal announcement on Monday.

Source: iSource updates