The Hutch $20B+ Valuation

Wanted to start a thread on the current bidding war for Hutch! We talked about this in the first Business Intelligence Using Data Mining (BIDM) class today in the context to mobile companies managing churn - keeping subscribers from switching to competition. Studnets alluded to the impressive subscriber growth and the higher than average ARPU that Hutch enjoys. Are there any spectrum issues? There is definitely more to the story...Thoughts??