'Hutchison ups stake in India unit'

The stake in Hutchison Essar Ltd was bought from the Hindujas, the source close to the transaction said.

india Updated: Jun 15, 2006 17:24 IST
Reuters
Reuters
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Hong Kong's ports-to-telecoms conglomerate Hutchison Whampoa Ltd has purchased an additional 5.11 per cent stake in its Indian GSM mobile business for at least $550 million, an industry source said on Thursday.

The stake in Hutchison Essar Ltd was bought from the Hindujas, the source close to the transaction said.

"The deal is through. Both have agreed and it is now a matter of documentation," he said.

First Published: Jun 15, 2006 12:02 IST