| Hindujas apply for telecom licence |
| Rajesh Kurup / Mumbai October 1, 2007 |
| The Hinduja group has put in a formal application with the Department of Telecommunications (DoT) to begin telecom services in the country. The group has applied for 2G licences, enabling it to offer GSM services in 22 circles in the country. When contacted, the group chairman Ashok P Hinduja confirmed the development, but did not elaborate on it. On September 29, Business Standard reported that the group was readying its applications for telecom licences. This is a significant move as the group had earlier exited the telecom space by selling its 5.11 per cent stake in Hutchison Essar to Hutchison Telecom International (HTIL). The group had earlier offloaded a 5.11 per cent stake in Hutchison-Essar (now Vodafone Essar) to Hutchison Telecom International for $450 million. This had resulted in HTIL increasing its stake in the GSM services provider to 67 per cent, which was later sold to the UK telecom major Vodafone. The Hinduja Group |
