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Hutchison Essar Group and Sterling Infotech Group terminate an agreement regarding acquisition of Sterling's Aircel Limited and Aircel Cellular Limited by Aircel Digilink Limited

April 15, 2005
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The Hutchison Essar Group and the Sterling Infotech Group have terminated an agreement which contemplated the acquisition of Sterling's Aircel Limited and Aircel Cellular Limited by Aircel Digilink Limited, a part of the Hutchison Group. The termination, which follows a mutual agreement, comes after Russian conglomerate AFK Sistema signed a non-binding deal with Sterling to buy a 49 per cent stake in Aircel Televentures for $450 million. Aircel Televentures is the holding company of Aircel Limited and Aircel

 
 
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