The takeover saga of Indian mobile phone operator Hutch-Essar finally came to an end after British telecom giant, Vodafone announced that it has agreed to buy 67 percent of Hutch Telecom International's (HTIL) stake in a deal thought to be around $19.3 billion.

In a statement announcing the deal, HITL said, "Vodafone announces today that it has agreed to acquire a controlling interest in Hutchison Essar Limited, a leading operator in the fast growing Indian mobile market, via its subsidiary Vodafone International."

Meanwhile the Essar group, which still holds 33 percent stake in the mobile operator, said that it has received an offer from Vodafone to be a partner.

In a statement, Essar group said, "This is a good price which reflects the premier position of Hutchison Essar as India's leading operator. We are delighted that Hutchison and Essar have together created this value. Hutchison Essar is a strategic player in the infrastructure development in India and neighboring countries. Telecommunication is a core business for Essar Group and we continue to create value in this sector both within India and globally."

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