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Article: Essar calls off BPL Mobile sale deal with Hutchison.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- August 1, 2006
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Essar calls off BPL Mobile sale deal with Hutchison
Mumbai, Aug 1 (PTI) Corporate house Essar today called off its proposed sale of BPL Mobile to its telecom Joint Venture Hutchison Essar, citing delay in getting necessary approvals, which it said was hurting the business of BPL.
Essar Teleholdings had acquired BPL Mobile, Mumbai, and three other circles for 1.15 billion US dollar last year and in turn sold three circles to Hutchison Essar, while striking a deal with the JV for sale of Mumbai circle subject to necessary approvals.
Even as the deadline for approvals - July 31, 2006 - was approaching, Essar is believed to have been approached by a ...