Indian conglomerate Essar Group said on Sunday it was considering an offer from Britain's Vodafone Group Plc (VOD.L) to be its local partner in India's fourth biggest mobile operator Hutchison Essar.
Earlier, a source close to the auction said Vodafone had won the race for a controlling stake in Hutchison Essar with an offer that gives the Indian operator an enterprise value of just under $19 billion.
"Vodafone's offer values Hutchison Essar at around $19 billion. This is a good price which reflects the premier position of Hutchison Essar as India's leading operator," Essar, which is Hong Kong-based Hutchison Telecom International's (2332.HK) partner in the venture with a 33 percent stake, said in a statement in Mumbai.
"We have been offered by Vodafone to be their partner. We are at the moment evaluating all our options in the best interest of the group," it said.
source news : news.yahoo.com
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