Aircel founder says he lost company as ‘politicians intervened’...
Aircel founder says he lost company as ‘politicians intervened’...Success was a problem at that time, Chinnakannan Sivasankaran said in a podcast, adding, “Politicians intervened and I lost my company.”Aircel founder Chinnakannan Sivasankaran said that today's india is very different from a decade back as at that time businesses data-faced significant pressures. success was a problem at that time, he said in a podcast, adding, “Politicians intervened and I lost my company.” He said, “I just made a paltry sum of ₹3,400 crore from the deal, if I would have sold it to AT&T I would have got 8 billion .” india today wasn't like the india then, he said, adding, "Today no one can pressurise you. Back then the entrepreneur had to data-face pressure to sell the company to a particular person".Aircel exited the market in february 2018 due to financial problems. In 2006, Maxis Berhad took over Aircel by acquiring a 74% stake. The Aircel-Maxis deal came under the scanner in 2011 when Chinnakannan Sivasankaran alleged that he was pressured to sell his stake to Maxis Berhad. Chinnakannan Sivasankaran said, “Now you build a business no one can pressure you. Now it is a liberalised India. My complaint is not that that they forced me to sell, my complaint is they should have allowed me to sell to who offered me 8 billion.”