Under the listing plan, the firm will combine its Indian ventures into one
Hutchison Whampoa is eyeing a US$2 billion, triple listing of its Indian mobile-phone business next year on the Nasdaq, London and Mumbai stock exchanges.
The Hong Kong-based telecommunications conglomerate had four Indian joint ventures, including two with Essar Group and one each with Max and Fascel, all Indian companies.
The joint ventures, in which Hutchison owned a 49 per cent stake each, had a cumulative subscriber base of 2.9 million as of August.
Under the listing plan, all four ventures will be combined into a single entity next month and listed as Hutchison Essar in August, making it the second listed mobile firm in India, according to Indian newspaper Asian Age.
Hutchison Essar, which operates mobile networks in 11 service areas in India, trails market leader Bharti Tele-Ventures, whose shares have jumped 372 per cent since its initial public offering in January, giving it a market capitalisation of US$4.3 billion as of Friday.
