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Etisalat keen on staying in India: Sibal

Last Updated: Thursday, March 1, 2012 - 22:06

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 1, 2012 - 22:06
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