Etisalat mulls USD1 billion investment in Tata Teleservices

14 May 2008

Emirates Telecommunications Corp (Etisalat) may join Mexican billionaire Carlos Slim and Russia’s Altimo in the running for a USD1 billion stake in India’s Tata Teleservices, according to Middle Eastern newspaper al-Khaleej. ‘We have already mentioned we are evaluating several opportunities in India,’ Etisalat Chairman Mohammed Omran told Reuters. ‘We haven’t decided to select one at this stage. It is still too early,’ he added. Last month Etisalat said it was looking to invest as much as USD4 billion in India, either buying into a telecom provider or acquiring its own licences. The company is believed to have already held talks with Spice Communications.

India, Etisalat UAE, Tata Communications