Chandrasekhar to merge BPL units

12 Oct 2004

Rajeev Chandrasekhar has turned up the heat in his ongoing battle with his father-in-law TPG Nambiar for control of the BPL Group, by announcing plans to merge the company’s two telecoms units BPL Mobile Communications and BPL Mobile Cellular, according to the Times of India. Mumbai operator BPL Mobile is 26%-owned by France Télécom, with the remainder held by BPL Communications – the holding company of the group’s telecoms businesses – while BPL Mobile Cellular, which provides services in Tamil Nadu and Pondicherry, Maharashtra and Goa, and Kerala, is wholly owned by BPL Communications.

Rajeev Chandrasekhar owns 32% of the holding company with TPG Nambiar owning 13%, and a further 38% being controlled by foreign investors, including Actis (formerly CDC Capital Partners) and AIG; the balance is held by domestic investors. Chandrasekhar is locked in a head-to-head legal battle with Actis for full control of BPL, with each filing suit and countersuit against each other.

India, Loop Mobile