Cellular Promoters Woo Investors As Valuations Go Up

Cellular telecom companies are engaged in hectic parleys with prospective buyers following a 25-30 per cent increase in their valuations in the last fortnight. The interested investors are mainly Indian corporates, foreign financial investors and telecom companies.

Companies which are looking for buyers include the Gujarat licensee, Fascel; the Ruias-controlled Sterling Cellular and Aircell-Digilink; BPL Cellular Holdings, the holding company of BPL Mobile and BPL-US West; Bangalore-based JT Mobile