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LONDON (AP) - Britain's Vodafone Group PLC has agreed to buy a 67 percent controlling interest in Hutchison Essar Ltd., one of India's leading cell phone companies, for $11.1 billion, Vodafone said in a statement Sunday.
Hutchison Telecommunications International Ltd. — a holding company of Hong Kong based Hutchison Whampoa_ agreed to sell its stake following a meeting Sunday to assess competing bids.
"Vodafone announces today that it has agreed to acquire a controlling interest in Hutchison Essar Limited, a leading operator in the fast growing Indian mobile market, via its subsidiary Vodafone International," the firm said in a statement.
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