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Our Bureau

Hyderabad, Sept. 21 Mobile retailing company UniverCell Telecommunications (India) is in parleys with private equity players to partly offload the company’s equity to help propel its next phase of growth.

The Founder, Mr Sathish Babu, said: “They were engaged in talks with several equity players and expect to close a deal very shortly.”

Speaking to Business Line after launching five stores in Hyderabad, Mr Babu said that this move would eventually lead to the company coming up with a public offer in 2009-2010, offering exit route to private equity.

He said: “The company, which has about fully owned 75 stores, plans to set up 25 more by the end of this month and take this number to 170 before the fiscal end. We are in an accelerated expansion phase.”

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