There was news some days back that Etisalat has intentions of buying the stake in the 2 telecom service providers of India called Reliance and Idea. While Reliance Communications has already denied that they are not selling their stakes to Etisalat and now Idea has also denied the news.
The official spokesperson of Idea Cellular, Rajat Mukherjee stated that their company has no plans of selling any stakes to Etisalat and he also stated that moreover they have not been approached by Etisalat for any such deal. He said that these news are purely speculations.
The CEO of International Investments at Etisalat, Jamal Al Jarwan was earlier reported to be saying that “There are many options in India, and we are not excluding Idea Cellular.”
The Etisalat DB Telecom Pvt Ltd is a joint venture between the DB Group of India and Etisalat and in this JV, 45% of the shares are owned by Etisalat. The services of Etisalat DB Telecom Pvt Ltd are offered under the Cheers Mobile Brand.
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