Abu Dhabi's Etisalat could decide within weeks whether to take a stake in an Indian telecoms operator, its chairman said on Wednesday, after a newspaper said it was in talks with Reliance Communications.
Shares in Reliance rose as much as 10 percent after the earlier newspaper report said Etisalat, which is the Gulf region's biggest provider of telecoms services by market capitalisation, was in advanced talks to buy a quarter of the Indian cellular operator for 180 billion rupees ($3.8 billion).
"We are talking to several Indian operators and are evaluating several Indian operators but have not reached a final decision," Mohammad Omran, chairman of Etisalat, also known as Emirates Telecommunications Corp, told Reuters.
Omran declined to comment specifically about the Reliance report and said that Etisalat had not taken any final decisions. "It may take a few weeks or it may take a few months," he said.
A day earlier another media report linked Reliance Communications to possible tie-up talks with South Africa's MTN .
A person close to the Indian firm who declined to be identified said both reports were speculation.
Source http://economictimes.indiatimes.com/news/news-by-industry/telecom/Etisalat-says-in-India-talks-Reliance-Comm-surges/articleshow/6002265.cms
Shares in Reliance rose as much as 10 percent after the earlier newspaper report said Etisalat, which is the Gulf region's biggest provider of telecoms services by market capitalisation, was in advanced talks to buy a quarter of the Indian cellular operator for 180 billion rupees ($3.8 billion).
"We are talking to several Indian operators and are evaluating several Indian operators but have not reached a final decision," Mohammad Omran, chairman of Etisalat, also known as Emirates Telecommunications Corp, told Reuters.
Omran declined to comment specifically about the Reliance report and said that Etisalat had not taken any final decisions. "It may take a few weeks or it may take a few months," he said.
A day earlier another media report linked Reliance Communications to possible tie-up talks with South Africa's MTN .
A person close to the Indian firm who declined to be identified said both reports were speculation.
Source http://economictimes.indiatimes.com/news/news-by-industry/telecom/Etisalat-says-in-India-talks-Reliance-Comm-surges/articleshow/6002265.cms
No comments:
Post a Comment