Vodafone reportedly won't overpay for Indian mobile player Hutchison Essar

Vodafone Group Plc (VOD) is seeking to fend off concerns about its involvement in the $20 billion bid battle for Hutchison Esssar, India's fourth-biggest mobile player, insisting that it won't overpay, The Times reported Saturday, citing a Vodafone spokesman.

The mobile operator has vowed not to breach the strict financial criteria recently introduced by Arun Sarin, its chief executive, in hopes of reassuring investors, the paper said.

Newspaper Web site: http://www.timesonline.co.uk

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