Vodafone 'planning bid for Indian mobile operator'

Vodafone confirmed today it is considering an approach for India’s fourth largest mobile phone operator.

The Newbury-based company said it is mulling a move for Hutchison Essar because the Indian mobile phone market offers “great potential”.

It is thought Vodafone is pondering a $13.5bn (€10.22bn) bid, but it did not name a price today and said the process was at an early stage.

The company added: “The board of Vodafone continues to believe the mobile market in India has great potential and is therefore considering the acquisition of a controlling interest in Hutchison Essar.”