BUSINESS

Rel Comm eyes Hutch-Essar buyout

Source:PTI
December 28, 2006 16:36 IST
Formally throwing its hat in the Reliance Communications said it was looking to acquire its rival Hutch-Essar and has received funding support for the proposed deal.

RCom Chairman Anil Ambani said his company had received strong financial support
from leading bankers all over the world.

"This I believe is a strong endorsement in our company and in India's telecom growth," he said, adding that "there is no certainty on the Hutch-Essar proposal on when and how it will be completed."
Source: PTI
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