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HUTCH-ESSAR TURN TO INDIAN BANK CONSORTIUM FOR DEBT FOR BPL.
NEW DELHI, Nov 1 Asia Pulse - Cellular major Hutchison Essar is understood to have approached a consortium of Indian banks to raise debt to part-finance its US$1.15 billion acquisition of BPL mobile companies and Essar Spacetel.
Hutchison Essar -- a joint venture between Hong Kong-based Hutchison Whampoa (SEHK:0013) and Ruias-owned Essar Telecom (BSE:523267), had acquired BPL Mobile companies in a US$1.15 billion mega deal that included Essar Spacetel, which the two promoters were to fund jointly along with external bank borrowing.
When contacted, both Hutchsion and Essar Teleholding officials confirmed the discussions with the consortium but did not reveal the amount of bank finance, saying the US$1.15 billion deal was structured to have a debt component and the transaction ...
- Hutchison Essar acquires BPL Mobile Cellular.(Hutchison Essar South Ltd., BPL...
- Newspaper article from: India Telecom February 1, 2006 700+ words
Last year, Hutchison Essar had entered into an acquisition agreement with BPL Cellular and BPL Mobile Communications for $1.15 billion...acquisition, the total subscriber base of Hutchison Essar group has increased to approximately...
- Essar calls off its proposed sale of BPL Mobile to its telecom joint venture...
- Magazine article from: Telecom Asia September 1, 2006 700+ words
Essar calls off its proposed sale of BPL Mobile to its telecom joint venture Hutchison Essar, citing delays in getting the necessary approvals, which it said was hurting the business of BPL. A couple of telecom players...
- Hutchison, Essar extend deadline for negotiations over BPL Mobile.
- Newspaper article from: Economic Times (New Delhi, India) November 7, 2006 700+ words
...dispute over the sale of BPL Mobile (BPL's cellular...The two partners in Hutchison Essar have decided to extend...group in talks while Hutchison Essar MD Asim Ghosh has been...had also written to BPL Mobile to nominate a person...then. Meanwhile, BPL ...
- New Delhi, Oct 31 (PTI) Cellular major Hutchison Essar is understood to have...
- News wire article from: PTI - The Press Trust of India Ltd. October 31, 2005 700+ words
Hutchison Essar -- a joint...acquired BPL Mobile companies...this year, Hutchison Essar had entered...to acquire BPL Mobile (Mumbai...Communications and BPL Mobile, under the...stake in Hutchison Essar Telecom...
- Hutch likely to pay for the acquisition of BPL Mobile.(BPL Mobile Cellular...
- Newspaper article from: India Telecom August 1, 2005 700+ words
For the proposed acquisition of BPL Mobile by Hutch-Essar, Hutch is likely to...make the payment for the acquisition of BPL Mobile on Essar's behalf. Essar, which already...in the process of acquiring stakes in BPL Mobile by buying out the holdings of promoters...
- Essar-BPL Mobile to consolidate soon.(BPL Communications Ltd., Hutchison Essar...
- Newspaper article from: India Telecom August 1, 2005 700+ words
The Hutch-Essar-BPL consolidated entity would soon be a part of the telecom giants' league in India with a 24.64 percent market share, pursuant to the announcement of the merger of Hutch-Essar-BPL last week. The said deal is a part of the consolidation phase going on in the Indian telecom industry
- Essar calls off BPL Mobile sale deal with Hutchison.
- News wire article from: PTI - The Press Trust of India Ltd. August 1, 2006 700+ words
...proposed sale of BPL Mobile to its telecom Joint Venture Hutchison Essar, citing delay...signed between BPL Mobile and Hutchison Essar was conditional...that a merger of BPL Mobile and Hutchison Essar would have meant...
- BPL merger into Hutchison Essar likely to be called off.
- News wire article from: PTI - The Press Trust of India Ltd. July 31, 2006 700+ words
BPL merger into Hutchison Essar likely to be called off...The agreement to merge BPL mobile into Hutchison Essar is likely to be terminated...intention of Essar to have BPL Mobile merge with Hutchison Essar's cellular services after...