KEY POINTS:
Britain's Vodafone has submitted a bid for Indian mobile phone operator Hutchison Essar that puts a value of at least US$17 billion ($24.2 billion) on the company, the Financial Times reported, citing sources close to the talks.
But Vodafone faces competition as India's Economic Times reported yesterday that Essar, which holds a third of Hutchison Essar, has offered to buy Hutchison Whampoa's 67 per cent stake at a similar price.
