RelComm, Orascom, Maxis in race to buy Hutch

The race for acquiring Hutch has hotted up with Reliance Communications backed by an US equity funder, Egyptian telecom giant Orascom and Malaysia's Maxis believed to have thrown their hats into the ring.

Hutch-Essar, the country's third-largest mobile services provider, is understood to be valued between $13-14 billion and a call for the soother could be taken in less than a month, investment banking sources said.

Hutchison Telecom International and corporate giant Essar, the two joint venture partners have declined to comment on speculations.