Aspiring to acquire Hutch-Essar, Anil Ambani seeks blessings

to acquire India`s third largest private mobile player Hutch-Essar, ADAG Chiarman Anil Ambani today sought blessings from Lord Balaji.

Tirupati (Andhra Pradesh), Dec 17: Aspiring to acquire India's third largest private mobile player Hutch-Essar, ADAG Chiarman Anil Ambani today sought blessings from Lord Balaji.
Ambani, accompanied by mother Kokilaben did not take any
questions on the issue. Last time he had visited the shrine on
June 19, 2005, a day after the family settlement over the
ownership of the Reliance empire.

Reliance Communication, an ADAG company, is understood to
have tied up with four us equity funds, including Blackstone,
to acquire the company, a joint venture between Hutchison
Telecom International Ltd and corporate giant Essar, and is
vying with Egyptian giant Orascom and Malaysia's Maxis.

Backed by the Egyptian government, Orascom, which has
raised security concerns in India due to its presence in
Pakistan, has already said it would be interested in
bidding for mobile service provider Hutch-Essar provided the
company was welcome in the country.

"I am already an indirect investor... So the answer is
definitely yes... I just need to be welcome. I do not want to
be somewhere where I am not welcome," Orascom Telecom CEO
Naguib Sawires told reporters here when asked if he would be
keen to acquire in Hutch-Essar.

"What I have seen today is that i am welcome. I just hope
to get assurance on that.. Once i get the message, I agree
that there is an urgency for clarity," Sawires, accompanying
visiting Egyptian Foreign Minister A A Geiti said.

Orascom indirectly controls 10 per cent in Hutch-Essar
after it acquired 19 per cent stake in Hong Kong-based
Hutchison Telecom International Ltd.

Bureau Report

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