Hong Kong’s Hutchison Whampoa buys addtional 5.11 per cent stake in Hutchison Essar

Hong Kong’s Hutchison Whampoa has reportedly bought an add itional 5.11 per cent stake in Hutchison Essar for at least $550 million from Hinduja TMT. The purchase will increase Hutchison Telecommunication International’s direct holding to 47.4 per cent in Hutchison Essar, valuing the Indian firm at $10.76 billion. The Ruias of the Essar Group hold 33.6 per cent of the company.