IIPM-PRESSS CENTRE PUBLICATION
Hutchison Essar, the Indian unit of Hong Kong based Hutchison Telecommunications International Limited (HTX), has taken over BPL Mobile Communications Limited and BPL Mobile Cellular Limited. The deal, which is being valued at $1.15 billion, also includes a conditional agreement to acquire Essar Spacetel Limited. Hutchison Essar is a joint venture between Hutchison Telecommunications and Essar, an Indian conglomerate. The BPL acquisition is expected to increase Hutchison Essar’s subscriber base to more than 12 million, making it the third-largest cell phone company in India. Earlier this year, the Essar Group had acquired a controlling stake in BPL Communications Limited.
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Source:IIPM-Editorial,2006
for Complete IIPM-Article, Click here
Source:IIPM-Editorial,2006
