Kishore Biyani’s Future Group and its UAE-based partner Axiom Telecom are on the verge of selling their mobile handset retail jointventure Future Axiom to the Essar Group’s The MobileStore in exchange for a minority stake in the combined entity, persons close to the negotiations said.
A deal, which will give the Essar group management and operational control of the combined entity, is expected to be finalised by the end of March. More details about the proposed transaction were not available.
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Monday, March 8, 2010
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