Hutch, Essar form new entity
Submitted by Varun Krish on September 1, 2005 – 6:56 am
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Hutchison Whampoa, the owners of the Hutch brand, and the Ruia group promoted Essar Telecom have decided to consolidate their operations into a new entity christened as Hutchison Essar Ltd. Essar Telecom will continue to have a 30 per cent stake in the merged entity. The name change comes after Essar Telecom picked up a 64 per cent stake in BPL Mobile a month ago.
source:Times of India, India
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