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Essar to buy Max stake in Hutchison

MUMBAI: Essar Teleholdings has announced that its has entered into an MoU with Max Telecom Ventures Ltd. (MTVL) to acquire MTVL's 3.16 per cent stake in Hutchison Essar for an all-cash deal aggregating Rs. 657 crore at a sale price of Rs. 607 per share. On completion of the purchase, the Essar group's stake in Hutchison Essar will go up to 33.58 per cent.

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