Technology Industry
Industry: Email Alert RSS FeedEtisalat planning to buy 49 percent stake in Swan for $1.3 billion.(MERGERS AND ACQUISITIONS)
India Telecom, October, 2008
According to the Business Standard, UAE-based Emirates Telecommunications Corp. is keen to buy a 49 percent holding in Swan Telecom--which had recently acquired concessions to launch telecom services in the country--by paying around $1.3 billion. The newspaper added that Emirates Telecommunications is likely to increase its stake to 51 percent at a later stage.
Swan has secured permission to launch cellular services in 13 areas in the country. Another report from the Business Standard had recently stated that Telecom Italia SpA was planning to buy a 49 percent stake in Unitech Telecom by paying $1.75 billion.
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