India’s Central Bureau of Investigation (CBI) said that Etisalat DB (formerly known as Swan Telecom) and Uninor benefited from the 2G scam scandal back in 2008, Dow Jones wrote.
The list reportedly includes other companies, but these were not…
India’s Central Bureau of Investigation (CBI) said that Etisalat DB (formerly known as Swan Telecom) and Uninor benefited from the 2G scam scandal back in 2008, Dow Jones wrote.
The list reportedly includes other companies, but these were not named.
Former telecom minister A. Raja stepped down in November following allegations of favouritism in the allocations of underpriced 2G spectrum to telecom operators more than two years ago.
According to a report from the Comptroller and Auditor General of India (CAG), the government’s auditor, the scam caused a US$40bn loss to the government.
Earlier this week, the CBI arrested Raja, who is currently in custody. According to the Financial Times citing a court hearing, Raja, who denies any wrongdoing in the case, and three of his aides will remain in custody until Monday.
In an email to TelecomFinance, an Etisalat DB spokesperson said: “We wish to inform you that Etisalat DB is not party to the matter referred to, before the Court. Therefore it is not pertinent for us to offer a comment at this time. Etisalat DB is committed to the Indian market and will continue, as always, to provide any necessary and possible assistance to the Government Authorities.”
A Telenor Group statement, sent to TelecomFinance, read: “As we understand, today’s comment was part of a custodial argument and not a judgment of the court. Also, therefore, we would not comment on an ongoing case and one of which Telenor Group is not a part of. We would like to reiterate that these investigations are into matters that happened before Telenor Group entered into India. Our investments are in reliance of a bona fide licence awarded by the Government at the time. We would have no reason to believe that the license would be awarded in any other way than in accordance with the guidelines set by the Indian authorities.”
Etisalat DB Telecom is a JV between UAE-based Etisalat and India’s DB Group, while Uninor is a JV between Norwegian Telenor and Indian real estate developer Unitech.
