Etisalat keen on staying in India: Sibal
Quotes

Etisalat keen on staying in India: Sibal

Last Updated: Thursday, March 01, 2012, 22:06
 
 Comment 0
 
Etisalat keen on staying in India: Sibal
Barcelona: After Telenor, UAE-based Etisalat met Telecom Minister Kapil Sibal to discuss its future course of action following the Supreme Court judgement quashing its 15 licences.

After meeting top officials of Etisalat on the sidelines of ongoing Mobile World Congress, Sibal told PTI, "They do not have any intention of opting out but they would definitely like to see everything and the final outcome of the recommendations," Sibal said.

He added that Etisalat has "no intention of quitting India".

On February 22, Etisalat announced that it would shut down its Indian operation -- Etisalat DB -- that has over 16.7 lakh mobile subscribers across 15 circles including Andhra Pradesh, Gujarat, Haryana, Karnataka, Kerala, Maharashtra, Mumbai and Punjab.

Sibal said, "They still think India is a very very robust market with enormous potential and I am sure that they will be back in India for auctions in one capacity or the other."

Etisalat holds the majority stake Etisalat DB. It became the second foreign telecom company after Bahrain Telecom, which sold its stake in STel, to announce exit from India.

Emirates Telecommunications Corp (Etisalat) had also written off about USD 820 million worth value of its Indian operations by way of an impairment charge as an after effect of Supreme Court order.

PTI



First Published: Thursday, March 01, 2012, 22:06


Comments


comments powered by Disqus
New York Auto Show
New York Auto Show
Top Businesswomen in India
Top Businesswomen in India
World`s top ten billionaires 2014
World`s top ten billionaires 2014
2014 Geneva International Motor Show
2014 Geneva International Motor Show
Geneva Auto Show 2014
Geneva Auto Show 2014

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved