Hutchison, Essar extend deadline for negotiations over BPL Mobile.
Economic Times (New Delhi, India), November, 2006
Byline: Rashmi Pratap
Nov. 7--MUMBAI, India -- Hong Kong's Hutchison and the Ruia-owned Essar Group are locked in deep talks to resolve the dispute over the sale of BPL Mobile (BPL's cellular business in Mumbai). The two partners in Hutchison Essar have decided to extend the time for negotiations instead of referring the matter to an arbitration tribunal.
Nearly two months after the expiry of the period after which an arbitration tribunal should have been set up, Hutchison and Essar are still working out means to avoid the repeat of a bitter public showdown, which hogged the headlines in August this year.
According to sources, the two parties have been holding talks to settle the matter amicably. "If the talks fail, then the tribunal will be...
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