Hutchison Essar has reportedly completed acquisition of Essar Spacetel from the Essar Group for $6 million. Hutch had signed an agreement for buying the company in September 2005. Essar Spacetel has pending applications for licences in seven circles ?? Madhya Pradesh, the Northeast, Himachal Pradesh, Bihar, Orissa, Assam, and Jammu & Kashmir ?? where Hutchison Essar does not currently operate. However, Spacetel has not yet received a letter of intent (LoI) from DoT for any of the seven circles.
