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Essar Teleholding sets exit price for shares

October 15, 2006
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Essar Teleholding, the telecom arm of the Essar Group, has fixed the price for delisting its shares from various stock exchanges at Rs 4,990 per share, which is higher than its proposed offer price of Rs 4,949 per share. In September 2006, the company announced plans to make itself a closely held private entity by offering to acquire all outstanding shares not held by promoters, estimated at 168,000 shares and representing 3.37 per cent of its equity share capital.

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