Hutchison Essar buyout target

Texas Pacific Group, The Blackstone Group and Kohlberg Kravis Roberts & Co. are talking about teaming up to bid for a controlling stake in Hutchison Essar Ltd., the Indian mobile phone service unit of Hong Kong’s Hutchison Telecommunications International Ltd and the fourth largest player in the Indian market, according to The Sunday Times. Others reported to be interested in buying the company include Vodafone; Egypt’s Orascom Telecom, in partnership with Qatar Telecom; and India’s Reliance Communications, which has reportedly teamed with several private equity firm.