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Essar to Sell BPL Mobile for 1 Billion
Friday, 2 November, 2007
Indian conglomerate the Essar Group, has announced plans to sell its Mumbai mobile operation BPL Mobile for USD 1 billion. Know to be one of India’s largest corporate houses and run by the influential Ruia Family, Essar acquired BPL mobile in September 2005 for a total of 1.15 billion dollars. BPL mobile operations span across four Indian telecoms circles. BPL was then merged into Hutchison Essar, the mobile operator which was bought over by mobile communications group Vodafone early this February. However, a dispute which arose between Hutchison Telecommunications International and Essar lead to Essar eventually calling off the sale of BPL to Hutchison Essar and operating it separately. Hutchison Essar has since been renamed Vodafone Essar. BPL is apparently pumping in USD 50 million to upgrade its infrastructure network.Labels: Essar
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