| 07 Sep 2010 |
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Etisalat sends strong signals to Syria, India
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ABU DHABI -- Emirates Telecommunications CorporationEmirates Telecommunications Corporation
is seriously considering expanding into overseas markets, particularly making a push into the growing markets of Syria and India. The telecom giant, popularly known as etisalatetisalat, is interested in placing a bid for the Syria's third mobile phone licence, Chief Executive Officer for International Investments Jamal Al Jarwan told media on Monday.
On the other hand, the Indian market where etisalatetisalat is already present in the shape of a joint venture also poses an ideal business place, but Al Jarwan said etisalatetisalat "is still studying investment opportunities."
He said the company is considering Idea Cellular Ltd as an option, but declined to comment on Reliance Communications Ltd.
A unit of Aditya Birla Group, Idea is among the top four mobile telephony players in India with an 11 per cent all-India subscriber market share.
It ranks third in terms of wireless revenue market share at 12.7 per cent and ranks second with 20.8 per cent revenue market share in nine service areas.
Idea's subscriber base has seen steady growth, from 7.37 million in March 2006 to 63.82 million in March 2010 in the 22 service areas it operates, according to its Website.
On June 3, etisalatetisalat Chairman Mohammed Omran revealed that the telecom firm was evaluating several Indian telecom firms for a possible stake acquisition but has not reached a final decision.
Since then, there was no word from the telecom on its plans for India.
Amid media speculations about a possible deal with Reliance, Omran confirmed on June 3, that etisalatetisalat was in talks with several operators. However, he declined to comment specifically about the Reliance report.
had not taken any final decisions. "It may take a few weeks or it may take a few months," he said.EtisalatEtisalat bought a stake in an Indian telecoms firm in 2008, which has been since renamed to Etisalat DB Telecom India. The company launched services in March.
In the Middle East, etisalatetisalat is bullish on business prospects. It is planning to invest $1.41 billion in its Egyptian subsidiary to expand its network during next three years, its chairman said recently.
By Haseeb Haider
© Khaleej Times 2010
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