Hutch Vodafone deal
• Hutch Essar deal gave Vodafone a pan-India presence, over 24 million customers and an over 16 percent market share. Deal increased Vodafone's presence in higher growth emerging markets, with proportion of the group's EBITDA from emerging market businesses set to increase to over 33 percent by 2012 from 20 percent in 1997. • HTIL's existing partners, who between them hold a 15% interest in Hutch Essar, agreed to retain their holdings and become partners with Vodafone. Vodafone's interest will be 52% following completion and Vodafone will exercise full operational control over the business. • The transaction is expected to closed on the second quarter of calendar year 2007 on Indian regulatory approval. • UBS Investment Bank acted as financial adviser to Vodafone. PRINCIPAL BENEFITS FROM DEAL • Accelerates Vodafone's move to a controlling position in a leading operator in the attractive and fast growing Indian mobile market India is the world's 2nd most populated country with over 1. 1 billion inhabitants. India is the fastest growing major mobile market in the world, with around 6. 5 million monthly net adds in the last quarter India benefits from strong economic fundamentals and high GDP growth.