The Hindu Business Line : Hutch seeks FIPB nod to consolidate group companies

HUTCHISON Max Telecom today said it has sought the approval of the Foreign Investment Promotion Board to consolidate its various telecom interests in India under a single entity.

According to a press release issued here, Hutchison Max has applied to FIPB to allow shareholders of Hutchison Essar Telecom Ltd (Delhi), Fascel Ltd (Gujarat), Hutchison Telecom East Ltd (Kolkata), Hutchison Essar South Ltd (Andhra Pradesh, Karnataka, Chennai, Punjab, Uttar Pradesh, Bengal) and Aircel Digilink India Ltd (UP East, Rajasthan, Haryanan) to transfer all their shares in these companies to Hutchison Max and become shareholders of HMTL.

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