Vodafone and Reliance Communications, the major suitors for Hutch-Essar, are contemplating picking up Hutchison Whampoa's (HWL) 49.8% stake in Hutchison Telecommunications International (HTIL) to get an indirect controlling stake in Hutch-Essar instead of buying HTIL's stake in the JV, the Wall Street Journal (WSJ) reported today.Such a move would also do away with issues related to Essar Group's right of first refusal (RoFR), WSJ said quoting an unnamed source familiar with the deal.Both Vodafone and Reliance Communications (Rel Comm), are believed to be studying the possibility of such a deal, although they seem to prefer a direct purchase.When contacted, spokespersons of both the companies declined to comment, while a spokesperson for Hutchison was not available.The report said that Vodafone and Rel Comm are considering this plan at the behest of HWL.HWL has been scouting for buyers for HTIL's stake for several weeks, but the Essar Group has been claiming RoFR for any sale and has threatened to use various means to block a deal, the report added.
