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Tatas blame Birlas on Idea issue
By
agencies,Tuesday, 28 February 2006, 00:00 Hrs
NEW DELHI: The war of letters between the Tata Group and Aditya Birla Group over Idea Cellular continued with the former shooting off another one to the Department of Telecom (DoT) blaming the Birlas of breaching a waiver agreement between the two sides signed in 2004.
The letter stated that the Birlas were agitating on an issue, for which it had already waived all its rights, in order to force an exit by the Tatas from Idea Cellular.
The Aditya Birla Group had earlier asked the Department of Telecom to intervene in the dispute. The Birlas had said that the Tatas' equity holding in Idea Cellular was illegal since it violated the license conditions for unified access license operators.
It sought a probe by the DoT on Tatas acquisition of AT&T Wireless stake in Idea Cellular through a Mauritius-based investment company. The Tatas, however, said that the DoT should not intervene since it was dispute between two shareholders, which can be resolved between the two sides.
The letter stated that the Birlas were agitating on an issue, for which it had already waived all its rights, in order to force an exit by the Tatas from Idea Cellular.
The Aditya Birla Group had earlier asked the Department of Telecom to intervene in the dispute. The Birlas had said that the Tatas' equity holding in Idea Cellular was illegal since it violated the license conditions for unified access license operators.
It sought a probe by the DoT on Tatas acquisition of AT&T Wireless stake in Idea Cellular through a Mauritius-based investment company. The Tatas, however, said that the DoT should not intervene since it was dispute between two shareholders, which can be resolved between the two sides.
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