Cell operators dial DoT for change in partners, promoters

Thursday, August 14 1997

Cell operators dial DoT for change in partners, promoters

R Balashankar

NEW DELHI, Aug 13: A number of cellular service operators such as Bharti Telecom, BPL, RPG, Sterling and AirTel have sought the permission of the department of telecommunication for changing their promoters and partners.

BPL System and Projects Ltd, licence holder for Mumbai, is planning to increase the stake of the group - of nine BPL companies - from 60 per cent to 74 per cent. The stake of the foreign partner - France Telecom - will continue to be 26 per cent. However, LCC Inc, US, which held 14 per cent, will go out of the consortium under the new arrangement and transfer the same to the BPL group companies.

RPG Cellular Ltd, holding the licence for Chennai, has submitted a proposal to transfer 51 per cent of it's equity to RPG Mobile Ltd. Under the proposal, Airtouch Int Ltd (Mauritius) will hold 20 per cent, Cellfone Ltd (Mauritius) 26 per cent and Itouchu Corp and MIstubishi Corp 1.5 per cent each. At the time of bidding, Ceat Finance Company Ltd and Ceat Holding Ltd held 26 per cent and 25 per cent, respectively, Airtouch Int 20 per cent and Cellfone (Mauritius) 26 per cent.

The stakes of Itouchu Corp and Mistubishi Corp were 1.5 per cent each.Another proposal before DoT is from Aircel Digiling India Ltd. The proposal is for raising the stake of Karthik Financial Services Ltd from 30 per cent to 80 per cent followed by Sterling Computers Ltd - 10 per cent - and Swiss PTT - 10 per cent.

Cellular Communications India Ltd has also submitted a proposal under which RPG Telecom, Harrison Malayalam, KEC Intl and RPG Mobile together will hold 51 per cent and Airtouch Intl (Mauritius) will hold 49 per cent.

Licence holder for Delhi Bharati Cellular, according to a DoT communique, wants to change it's equity pattern in the following lines: Bharti Televentures - 51 per cent, EMTEL Intl (Mauritius) - 17 per cent, Mobile System Intl - 4.5 per cent, General Mobile Co - 22.5 per cent, Stet Inte (Netherland) - 2 per cent and NRIs - 3 per cent.

Sterling Cellular proposes to have a major shake-up in its equity pattern.

At the time of bidding, Sterling Computers held 51 per cent, Cellular Communications Intl (Mauritius) 10 per cent, Mobilvest, (Mauritius) 30 per cent and OCBs/NRIs 9 per cent. According to the proposal, Sterling Computer will continue to hold 51 per cent while Cellular Communications will hold 8.65 per cent, Mobilvest 32.56 per cent and OCBs/NRIs 7.79 per cent.