Etisalat aims to boost stake in Indian venture

26 September 2010

UAE telecom operator wants a 50 per cent stake in Etisalat DB Telecom

Etisalat plans to resubmit a proposal to raise its stake in an Indian venture after its initial plan was rejected by the government on technical grounds, Reuters has reported. Increasing its stake in Etisalat DB Telecom from 44.73 per cent to 50 per cent plus one share is part of a plan to expand in the world’s second-largest wireless market, Shahid Balwa, vice chairman of the Indian unit said. The operator plans to offer cellular phone services in the nation’s 15 circles, or coverage areas, where it has a license.

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