Ruias, Hutchison Telecom In Talks For Widening Operating Field

Hyderabad, May 24: | Updated: May 25 2002, 05:30am hrs
The Ruias of Essar are holding talks with Hutchison Telecom asking the latter to take part in other Essar operating circles of east Uttar Pradesh, Haryana and Rajasthan.

Disclosing this to The Financial Express, Mr Anshuman Ruia, director, Essar Group, said: "We are partners in Delhi circle. We would like to extend our relationship to our other circles too."

"It is time now for consolidation. As per the understanding between us, Essar would like to be a shareholder and partner in the circles where Hutchison is operating which include Mumbai, Calcutta and Gujarat," Mr Ruia said. "We have not fixed any time-frame. It takes time for us to work out the equity pattern, investments required and other pros and cons before we both work together," Mr Ruia said adding "we have jointly proved a successful operator in Delhi".

"Ours is long-term relationship. With the new brand, readily available next generation technologies and high value-added services in hand it is time we have to think about consolidation as the industry already witnessed similar happenings," he pointed out.

"We would like to be a partner for the Mumbai circle. We would like to invest in the circle. Similarly, we also would like to invest in other circles too where Hutchison is operating to help each other in creating a big entity," he said. "The new circles would demonstrate our commitment to grow the telecom business in partnership with the Hutchison Group continously," Mr Ruia said.