Collect Call ; Indian Telecom's Biggest Deal Marks Consolidation in a Booming Industry
Linked as:
Summary
It is curtains for the one-time poster boy of telecom who built a frontline cellular business in a regulatory environment that did not make sense even to global biggies like British Telecom, Vodafone, Telstra and AT&T. After 10 years in the business that is still growing like none other, Rajeev Chandrasekhar, the head of the BPL's cellular operations, has hung up.
Chandrasekhar, who just settled a feud with his father-in-law and BPL Group patriarch T.P.G. Nambiar over control of BPL, sold his 64 per cent stake in BPL Communications to Essar Teleholdings for $1.1 billion (approximately Rs 4,500 crore) on July 20 (see box). The debt component of the deal is $600 million while the equity value is $500 million. "I am monetising my investment in the business and not bowing out of the industry," says Chandrasekhar without disclosing what he will do with the cash.See the full content of this document
Extract
Collect Call ; Indian Telecom's Biggest Deal Marks Consolidation in a Booming Industry
BPL Communications had been scouting for a partner ever since its proposed merger with Idea Cellular (then called BaTATA) fell through in 2002. At that...
See the full content of this document
Sponsored links
