Essar Seeks Telecom Licence For BPL

Entities Mentioned

• Essar
• BPL Mobile
• Idea Cellular
• Swan Telecom
• Datacom Solutions
• Spice Communications
• HFCL Infotel

1. Essar, a 33 percent partner in Vodafone-Essar, has apparently filed for a telecom licence under the name ShippingStop.com, a fully owned subsidiary of BPL Mobile, reports CNBC-TV18. Essar has direct investments of 9.9 percent in BPL, while funds allegedly close to Essar have stake in the co, and hence there appears to be a conflict of interest with Vodafone-Essar, and also something for the TRAI to look at, if Essar has holdings in both co's, even though their holding in BPL is less than the limit of 10 percent. The ownership of BPL is also under arbitration. ... (Read Full Article)
   
   

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