Essar calls off BPL Mumbai sale to Hutch

The Essar group has called off a proposed merger of BPL’s operations in Mumbai with Hutchison Essar citing non-receipt of government approvals.
The share purchase agreement signed between BPL Mobile and Hutchison Essar was conditional on the parties receiving DoT approvals by July 31. Since the approvals were not received until this date, the purchase was [...]