Hong Kong’s Hutchison Whampoa has reportedly bought an additional 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 in Hutchison Essar to 47.4 per cent, valuing the Indian firm at $10.76 billion. The Ruias of the Essar Group hold 33.6 per cent of the company stake.
