Hutchison Telecom East Limited

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Usha Martin Telecom, previously known as India telecom, was awarded one of two 10-year licenses to operate cellular networks in the circle of Calcutta in 1995. Usha Martin was originally created by Telecom Malaysia (40%) and the Usha Martin Group (51%). As of December 2002, Hutchison owned a significant stake in the company and renamed it Hutchison Telecom East Limited (HTEL). As of December 2004, HTEL had the following ownership structure – Hutchison Telecommunications International Limited (32.5 percent), Kotak Mahindra Group (33.9 percent) and Essar Group (33.52 percent). HTEL owned 100 percent of Aircel Digilink India Limited that served Uttar Pradesh East, Rajasthan and Haryana regions. In February 2005, Hutchison Group consolidated all its mobile operations in India into its Mumbai subsidiary Hutchison Essar Limited (HEL), formerly called Hutchison Max Telecom Limited (HMTL). As of June 2006, Hutchison Telecommunications International Limited (HTIL), subsidiary of Hong Kong’s Hutchison Whampoa Group, had 67% equity stake in HEL and the balance was held by India’s Essar Group. As of December 31, 2004, HTEL had 1.8 million subscribers, out of which 617,000 were in Kolkata. None None