Hutchison Essar has bought Chennai based Aircel for a reported value of Rs. 1200 cr, making it the largest operator in Chennai.
Hutch, which was not present in the Tamil Nadu circle, by acquiring Aircel Cellular, will become the market leader, with close to 45% marketshare. The other three operators in the Tamil Nadu circle are BSNL (4 lakh subscribers), BPL (3.2 lakh subscribers) and Bharti (2.6 lakh subscribers).
The fact that Aircel was up for grabs was in the air for quite sometime. This was further strengthened when Aircel acquired RPG Cellular in Chennai in December last year for a consideration of Rs 209 crore.
The Economic Times is carrying this article.
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Comments
This didn't go through in
This didn't go through in the end. Now Maxis of Malaysia have bought Aircel :)
Talk about late replies!
Din.
yeah - I saw that.
yeah - I saw that. Apparently, the minority holders - the "Reddy Family" - are the same people who are behind Apollo Hospitals. Rather odd li'l mix.
-K