Hutchison buys Hinduja stake in JV for $450mn

Hong Kong based Hutchison Telecommunication (HTIL) has acquired the entire 5.11% Hinduja TMT stake in Hutchsion Essar for about $450 million today.

The deal between the shareholders is understood to have been signed and the entire stake of 5.11% has gone to Hutch, sources said.

The acquisition would take Hutchison Telecommunications International's direct holding in Hutchison Essar to almost 48%. HTIL is a subsidiary of Hutchison Whampoa.