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Our Bureau

Mumbai , June 15

INDUSIND Telecom Network Ltd, a subsidiary of Hinduja TMT Ltd (HTMT), is likely to be allotted 5.11 per cent equity holding in the consolidated entity of Hutchison Max Telecom Ltd (HMTL). IndusInd Telecom Network Ltd holds a stake of 30 per cent in Fascel Ltd, the Gujarat circle cellular operator. On Monday, HMTL had announced that it has filed with the FIPB an application for the Hutchison Essar Telecom group of companies to consolidate its various telecom interests in India under a single entity.

The consolidation is expected to pave the way for an IPO by HMTL.

More Stories on : Mergers & Acquisitions | Telecommunications

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