Hutchison completes BPL acquisition
February 15, 2006
Hutchison Essar has completed the acquisition of BPL Mobile Cellular, which holds cellular mobile licences for the Maharashtra, Tamil Nadu and Kerala circles. Hutchison had acquired BPL Mobile in July 2005 in a deal with an enterprise valuation of over Rs 44 billion. According to the latest data from the Cellular Operators Association of India, the merger will take Hutchison Essar's total subscriber base to about 13 million.
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