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. Last Updated: 07/27/2016

Altimo Joins Bidding for Hutchison

India's Hinduja Group has teamed with Qatar Telecom and Russia's Altimo in its bid for control of Hutchison Essar, Indian newspapers reported Sunday.

Hutchison Telecom directors were due to discuss offers late Sunday for control of India's fourth-biggest mobile operator, sources familiar with the situation said, in a contest expected to value the carrier at up to $20 billion.

Hutchison Telecommunications International has received four bids, one of the sources said, for its 67 percent stake in Hutchison Essar. Vodafone Group, India's Reliance Communications and the Essar group, which owns 33 percent of Hutchison Essar, have also submitted bids.

Essar has in the past disagreed with Hutchison Telecom over its rights of first refusal should the Hong Kong company sell. But the Times of India paper said Sunday that Essar appeared to have the edge as Hutchison was considering giving its local partner the right of first refusal.