RCL to unveil its next strategy for Hutch

MUMBAI: Anil Ambani, the chairman of Reliance Communications will address a press conference at 4:00 pm on Thursday amidst raging speculation that he will announce his firm's next move in the battle for Hutch-Essar.

The conference will happen at Reliance Centre, Ballard Estate. Mr Ambani's move comes after submission of bids by both the Essar group and Vodafone.

International wire reports said earlier on Thursday that Vodafone, the world's largest wireless company, has made an offer to Hutchison valuing the company at $19 billion including extra costs.