Hutch Deal: Vodafone informs Bharti of bid plan

Bharti Airtel today said its equity partner Vodafone, which controls nearly 10% stake, has informed the company about its interest to acquire mobile operator Hutch-Essar.

"Vodafone has informed Bharti it may make an offer for a controlling stake in Hutchison Essar. Bharti awaits further developments," a company spokesperson said in a statement.

When asked whether Bharti is considering to waive the non-compete clause with Vodafone or whether the British company has started talks to sell its stake, the spokesperson said: "At the moment, we have this much to share."

As per the non-compete clause, the UK-based company cannot operate in the same circles where the Indian firm is functioning till one year from the date of ending the agreement between the two companies.

Vodafone, earlier today,  said in a statement that it was considering acquiring Hutch-Essar that is being valued at up to $17 billion.