Hutch buys BPL's stake from Essar

Essar and its associates had purchased 64 per cent stake in BPL Cellular for $1.1 billion (Rs 4,400 crore) in July.

Hutchison also bought Essar SpaceTel, a flagship of Essar Group, which had applied for mobile licence for seven new circle, and would pay $ 6 million to Essar for this acquisition.

Essar's stake in the Hutch-Essar JV remains unchanged at at 30.43 per cent.