Abudhabi based Etisalat on 22 February 2012 announced to close down its India operation. Etisalat was providing its service in 15 circles. It was operating in India through a joint venture with Dynamics Balwas group.
Etisalat was forced to shut down its India operation in the wake of the Supreme Court’s verdict to quash all 122 2G licences allocated by A Raja, the then Telecom Minister, in 2008. With the Supreme Court’s verdict, Etisalat would not be able to continue its operation in India after 2 June 2012. Etisalat owns 45% stake in Etisalat DB joint venture.Etisalat DB joint venture had 1.67 million subscribers as on December 2011.
Earlier on 8 February 2012 Baharain Telecom had decided to exit from Indian market, due to the same reason. India is one of fastest growing markets for mobile telephones globally with 893 million users in its fold. The recent Supreme Court’s verdict was aimed at bringing transparency to the rapidly growing industry. In January 2008 the UPA government had arbitrarily allocated the 2G spectrums to the applicants at throw away price.
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