BPL Appoints Group to Sell its Surplus License

India's BPL Group has appointed ICICI Ltd. to sell its cellular license in Maharashtra. The company currently operates a joint venture in the area with AT&T, but is required to sell the license as a condition of its merger with Birla AT&T and Tata which already operates in that market. The sale must be completed before the telecoms regulator will approve the planned merger. Hutchison Telecom is considered to be the most likely bidder, as the previous most likely bidder, Bharti Group won a license for that market in the recent auction."

Posted to the site on 7th August 2001