Swan Telecom rumoured to be considering purchase of Allianz Infra's licences

25 Sep 2008

India’s Economic Times is reporting that, following the recent sale of a 45% stake to UAE’s Etisalat, Swan Telecom is considering the acquisition of mobile licences held by Allianz Infratech. Allianz holds licences for two circles, Bihar and Madyha Pradesh, and industry sources suggest that a deal may be announced within two weeks; Swan already holds concessions for thirteen of India’s 22 telecom circles. Earlier this year, Allianz failed to bag a pan-India telecom licence as its net worth was lower than the mandated INR13.5 billion (USD292.3 million). Swan Telecom Managing Director Shahid Balwa has denied the rumours, although he did admit that the company was looking to extend its footprint in the country through acquisitions.