Hutchinson Max Telecom Pvt Ltd is planning to consolidate its various telecom operations in India under a single entity, including that of Hutchison Essar Telecom Ltd (Delhi) and Fascel Ltd (Gujarat), for which the company has filed an application with the Foreign Investment Promotion Board.
The application is to allow shareholders of all subsidiaries to transfer all their shares in these companies to HMTL and then become shareholders of the parent company, Hutch said in a release on Monday.
The other telecom operations of the company, which are also being proposed to be brought under HTML, are Hutchison Telecom East Ltd (Calcutta), Hutchison Essar South Ltd (Andhra Pradesh, Karnataka, Chennai, Punjab, UP West, West Bengal) and Aircel Digilink India Ltd (Uttar Pradesh East, Rajasthan, Haryana), it said.
The consolidation will create one of the largest mobile operations in the country which can derive many operating synergies, it added.
The combined subscriber base of the entity at the end of May was at 5.6 million and the licensed areas cover over 56 per cent of India's population and about three-fourth of its purchasing power, it said.
