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A constant modulus algorithm is presented for blind equalization of complex-valued communication channels. The proposed algorithm is obtained by solving a novel deterministic optimization criterion which comprises the minimization of a priori as well as a posteriori dispersion error, leading to an update equation having a particular zero-memory continuous Bussgang-type nonlinearity. We also derive a stochastic bound for the range of step-sizes for a generic Bussgang-type constant modulus algorithm. The theoretical result is validated through computer simulations.