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Altimo interested in India?

Russian conglomerate Altimo is the latest party to register an interest in Indian mobile provider Hutchison Essar, according to Russian press on Friday.

Altimo, formerly known as the Alfa Group, is understood to have held discussions over the acquisition of a minority holding in the Indian player.

With each new expression of interest in Hutch Essar a protracted bidding war looks likely. Vodafone, the Hinduja Group and existing 33 per cent stake holder Essar are thought to be the forerunners in those known to be targeting a holding.

Hutchison Telecommunications International’s (HTIL) 67 per cent in the company is the asset up for grabs.

Hutchison Essar controls around 11 per cent of the Indian market. Bharti Airtel is the market leader with 21 per cent market share.

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