HMTL in talks to buy BPL assets, Essar Spacetel

News Wireless India 4 AUG 2005
HMTL in talks to buy BPL assets, Essar Spacetel
Hutchison Telecommunication International Limited (“Hutchison Telecom”, “the Company”: SEHK:2332, NYSE: HTX) today announced that it and Essar Teleholdings Limited (“Essar”) are in discussions regarding possible expansion opportunities in India. The parties have been exploring ways for Hutchison Max Telecom Limited (“HMTL”), their joint venture in India, to acquire the operating subsidiaries of BPL Communications Limited being BPL Mobile, which operates in Mumbai, and BPL Cellular, which operates in Maharashtra, Tamil Nadu and Kerala. In addition, the parties are in advanced discussions for HMTL to acquire Essar Spacetel Limited, which has applied for seven new licences. The licences are for Madhya Pradesh, North East, Himachal Pradesh, Bihar, Orissa, Assam and, Jammu and Kashmir. No definitive agreements have been entered into regarding the above, which if reached, are expected to be subject to applicable regulatory approvals. – End – For further information, please contact: Mickey Shiu Hutchison Telecom Work +852 2128 3107 Mobile +852 9092 8233 E-mail mickeyshiu@htil.com.hk Notes to editors: About Hutchison Telecommunications International Limited Hutchison Telecommunications International Limited (Hutchison Telecom or the Group) is a leading global provider of telecommunication services. The Group currently offers mobile and fixed-line telecommunication services in Hong Kong and mobile services in Macau, India, Israel, Thailand, Sri Lanka and Ghana. It has plans to commence service in Vietnam and Indonesia. It was the first provider of 3G mobile services in Hong Kong and operates brands including “Hutch”, “3” and “Orange”. Hutchison Telecom is a listed company with American Depositary Shares quoted on the New York Stock Exchange under the ticker HTX and shares listed on the Stock Exchange of Hong Kong under the stock code 2332. A subsidiary of the Hong Kong-based Hutchison Whampoa Group, Hutchison Telecom is dedicated to providing superior telecommunications services in markets with high growth potential. See www.htil.com.

Categories:

Companies:

Countries: