Etisalat examines Indian options

Etisalat may compete with Mexican billionaire Carlos Slim and Russia’s Altimo for a US$1 billion stake in India’s Tata Teleservices, according to press reports in the UAE.

Mohammad Omran says Etisalat is talking to several Indian players.

“We have already mentioned we are evaluating several opportunities in India,” Etisalat chairman Mohammad Omran told Reuters. According to media reports in the UAE, Etisalat is well-placed to win the stake in Tata Teleservices, while it has not been stated specifically why that is thought to be the case.

“We haven’t decided to select one at this stage. It is still too early,” Omran said. Tata Teleservices is part of US$29 billion Tata Group, which has over 98 companies, over 289,500 employees and more than 2.9 million shareholders. Tata Teleservices spearheads the group’s presence in the telecoms sector. Incorporated in 1996, Tata Teleservices was the first to launch CDMA mobile services in India. Etisalat is also reported to have made contact with India’s Spice Communications and other operators in the country about the possibility of making an investment into the Indian telecoms market.