UAE incumbent Etisalat has said it may invest in Indian wireless phone business Idea Cellular, CEO for international investments Jamal Al-Jarwan has said.
Speaking to Bloomberg, he said that the company was considering various options, including Idea…
UAE incumbent Etisalat has said it may invest in Indian wireless phone business Idea Cellular, CEO for international investments Jamal Al-Jarwan has said.
Speaking to Bloomberg, he said that the company was considering various options, including Idea Cellular, in order to expand its operations in India’s wireless market.
Etisalat already owns a 45% stake in Etisalat DB Telecom (formerly known as Swan Telecom), a mobile phone venture with DB Group, but this operator has yet to gain traction in the market.
Etisalat is also looking to make investments in the Moroccan market, Al-Jarwan told the Economic Times newspaper. Elsewhere in MENA, Etisalat has been linked to interest in Zain?s Middle Eastern assets.
He emphasized, however, that a deal with Indian mobile operator Reliance Communications was unlikely in the near future. Last June, Etisalat was reported to be considering a 26% stake in Reliance Communications.
Yesterday, when discussions to sell Reliance’s tower assets to GTL Infrastructure fell apart, some reports suggested that the company was already in talks with other potential investors.
Etisalat and Idea Cellular could not be reached for comment by press time.
