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Aircel Televentures to offload 35 per cent stake for $350 million

July 15, 2005
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According to news reports, the C. Sivasankaran-promoted Aircel Televentures is in talks with a group of financial investors led by Pico to offload 35 per cent stake for a value of $350 million. The deal is expected to cover Aircel's operations in Chennai and Tamil Nadu as well as the operations in the seven new licence areas it has recently acquired. The move is expected to fund the expansion plans of the company in its seven new circles.

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