Vodafone Group wants to ink a deal to acquire a majority stake in Indian cellphone operator Hutchison Essar Ltd for $11.1 billion, and success could give Vodafone a stance from which it can take on one of the most quickly expanding cellphone markets, which also has the most potential. Vodafone shareholders could be concerned about the high price, however, even as CEO Arun Sarin works to bolster investor confidence. The winning bid valued the whole company more than $2 billion higher than its initial non-binding offer of $16.5 billion. But Mr. Sarin defended the cost, saying the Indian market is expanding very fast and, in a conference call, saying the deal is an excellent investment for our shareholders. Ravi Ruia, Essar Group vice chairman, says We have been offered by Vodafone to be their partner. We are at the moment evaluating all our options in the best interest of the group, and Essar is expected to make its decision in the next few weeks. More than six million new subscribers get cellphones in India each month, but only 15 percent of Indians use a cellphone now, and cellular networks cover only about half the country. The market in general should expand more than 30 percent this year, says Gartner India Research & Advisory Services. Other bidders for the stake were Reliance Communications, Hinduja Group of India, and Essar Group. Hutchison Telecommunications International (under the control of Hutchison Whampoa) decided to sell its 67 percent stake in Hutchison Essar).