Hutch shelves IPO

Differences between the two JV partners of Hutch — Hutchison International and Essar Group — have led to the scrapping of plans to list Hutchison Essar.
Hutchison group MD Canning Fok was quoted as saying:
“the original plan to list the business was largely to fulfil the commitment made by the group to JV partner Essar.
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250 million by end of 2007

The number of telecom subscribers in India will reach a staggering 250 million by end of 2007, according to Fitch Ratings in its latest report on ‘Indian Telecoms Sector - Sustainable Growth Ahead’.

Over the medium term, Fitch anticipates the emergence of six operators BSNL, Bharti Airtel, Reliance Communications Limited, Hutchison Essar, Idea Cellular and Tata [...]