Home / Etisalat to acquire 9.7% stake in TTSL

Etisalat to acquire 9.7% stake in TTSL

Emirates Telecommunications Corporation has pulled out of talks to acquire 9.7 percent stake in CDMA mobile services major Tata Teleservices (TTSL).

Etisalat, which is looking to expand into India, has instead started talks with other telecom companies including the Videocon Group's Datacom Solutions, Indian daily Business Standard reported on Monday.

Ravi Sharma, CEO of Datacom confirmed that Etilasat was one of the companies to which the company was talking but did not offer further details.

Etisalat's decision to withdraw from TTSL, which offers all-India services and has 20 million subscribers, came after the two parties failed to reach a "conclusive decision" on the price, a source close to the development told the newspaper.

Follow us to get the most comprehensive technology news in UAE delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.