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Hindujas still in race for Hutch

Hindujas claimed the deal for acquiring 67% stake in Hutchison-Essar is not yet complete and it was still in the race for acquiring the mobile operator.

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MUMBAI: Hindujas on Tuesday claimed the deal for acquiring 67 per cent stake in Hutchison-Essar is not yet complete and it was still in the race for acquiring the mobile operator.

"Our bid is pending...it is not yet closed...it is open till April," Hinduja Group Chairman Srichand P Hinduja said.

Hindujas had put in a bid of $20 billion, he said. This is higher than British telecom giant Vodafone's bid of USD 19.3 billion. However, Hutchison's stake went to Vodafone.

This is for the first time the Hindujas have come on record about the amount they have bid.

Hindujas in January announced their intention of bidding for Hutchison Essar.

Earlier, they had a 5.11 per cent stake in Hutch Essar, which they sold off. Ashok Hinduja of Hinduja Group had said earlier that with 5 per cent stake they did not have much to do in the company.

Whereas if it comes for sale then they would be interested, he had said at a press meet while announcing their intention of entering the Hutch race.

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