Who has acquired HUTCH in INDIA recently?
Hutch-Essar’s ownership issue More controversy has hit the Hutch-Essar deal. This time, it centres around Hutch-Essar’s ownership structure, reports CNBC-TV18. The bid for Hutch is clouded in smoke. Essar’s decision to turn buyer has already confused the deal and now sources close some bidders told CNBC-TV18 that Hutch’s ownership structure could further complicate matters. The focus is on the shareholdings of Analjit Singh and Hutch India’s MD, Asim Ghosh. Combined, the two own 12.2% in Hutch-Essar, a vital stake that contributes in helping the indian ownership of the company meet the minimum 26% requirement. Both Singh & Ghosh hold their individual stakes in Hutchison Essar through a layered structure of four investment companies, the third layer of which is Singh’s ND Callus and Ghosh’s Centrino Trading. CNBC-TV18 learns that Hutchison Telecom has a call option to subscribe to 97.5% of the shares of both these companies at Par.Some bidders seem to be interpret this as Hutch having e
