Orascom talks with Hutchison Telecom for further stake fail

Egypt-based Orascom Telecom Holding's attempt to increase its presence in the booming Indian cellular market has failed, with its negotiations for merger with Hutchison Telecom International Ltd ending without success.

Orascom had earlier picked up 23 per cent stake in Hong Kong-based Hutchison Telecom, which gave it about 10 per cent equity share in Indian cellular venture, Essar Hutchison.

Source:Orascom talks with Hutch for further stake fail -The Hindu Business Line