A day after the Kotak Mahindra group sold its stake, Hutchison Telecom Internatinal (HTIL) today said they would be owning about 42.3% direct stake in Hutchision Essar.HTIL would also own a part of the stake in joint venture companies, which hold 19.5% interest in Hutch Essar, an official statement said, adding Asim Ghosh, managing director of Hutch Essar, has become an indirect shareholder through an investment in one of the JV companies.HTIL has effected a reorganisation with a view to comply with the guidelines on FDI in telecom announced last year which is set to lapse tomorrow.According to the release, Ghosh would be owning 24% in the JV, and the reorganisation has not led to any change in the management structure of HTIL.On Asim Ghosh becoming a shareholder of the company, Canning Fok, chairman of HTIL, said: "I am delighted to welcome Asim Ghosh now as a shareholder as well as the managing director of Hutchison Essar. Asim has built this business as one of the leading mobile operators in India. It is only fitting that Asim continues and extends his involvement through this investment."
