ETISALAT BUYS 45% IN SWAN TELE FOR $900 MLN

Emirates Telecommunications Corporation (Etisalat) has signed a definitive agreement to acquire approximately 45 per cent of Swan Telecom Private Ltd, one of the companies which had recently got the licence for offering mobile services. Etisalat will pay $900 million for the stake, implying an enterprise value of $2 billion. Swan Telecom holds Universal Access Service Licences in 13 telecom service areas in India, and is in the process of acquiring licences in an additional two telecom service areas.

The Hindu BusinessLine