Tech News Round-Up from India

04:44 | Kamla Bhatt | Feb 16th, 2007 4:00pm |

The suspense about Hutchison Essar is finally over. Vodafone acquired 67 percent of the stake from Hong Kong-based Hutchison Telecom Ltd. Vodafone paid $11.1 billion for the stake while the remaining 33 percent is held by Ruias of Essar Group.

Vodafone is in talks with the Essar Group to see if it can work out a deal. Mr. Arun Sarin, the head of Vodafone made a quick three day trip to India, after making an appearance at the 3GSM Conference in Barcelona. Vodafone is investing $2 billion to expand its footprint in India.

Mobile companies are definitely in high demand, especially after the Vodafone deal. IDEA Cellular’s IPO has been oversubscribed more than 57 times.

Apollo Hospital is reportedly in talks with private equity companies in the United States and Britain to acquire a UK-based hospital chain. The deal value is estimated at 1.2 billion pounds.

Google has invested an undisclosed amount in Erasmus, a Bangalore-based early-stage venture fund.

Three international insurance and financial services companies, American International Group (AIG), JP Morgan Asset Management and Japan’s Mitsubishi UFJ Securities, have received regulatory approval from Security and Exchange Board of India to begin business in India.

Tags: Hutchison Essar, Vodafone, Erasmus

This entry was posted on Friday, February 16th, 2007 at 4:00 pm and is filed under PodTech, Enterprise 2.0, India, Technology. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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