Etisalat to boost stake in Indian unit

03 February 2010

UAE-based telecom provider Etisalat plans to raise its stake in its Indian unit and buy the rest of its African venture, Reuters has reported. The company, which currently holds 44.7% of Etisalat DB, said it is seeking approval to raise its stake to 50%, plus one share. It also said it had bought the rest of its stake in Africa-focused firm, Atlantique Telecom for $75m. Atlantique holds majority stakes in seven telecommunications organisations in Africa, including in Niger, Togo and Gabon, and is operated by Etisalat as part of a 10-year management contract ending in 2015.

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