Emirates Telecom Corp plans to boost its stake in its Indian subsidiary Etisalat DB Telecom from 44.73% to 50% plus one share.
Headquartered in Mumbai, Etisalat DB Telecom has received a unified services access licence in 15 circles, including Andhra Pradesh, Delhi, Gujarat, Haryana, Karnataka, Kerala, Maharashtra, Mumbai, Punjab, Rajasthan, Tamil Nadu (including Chennai), Uttar Pradesh [...]

Emirates Telecom Corp said that it has paid $75 mn for an 18% stake in Atlantique Telecom, bringing its stake in the company to 100%. Etisalat started its relationship with West African Atlantic Telecom in 2005, when it acquired 50% of the company. In April 2007 it raised its stake to 70%.
Etisalat has been the [...]

Emirates Telecom Corp FY 2009 NI rose by 3.8% YoY to AED8.83 bn ($2.4 bn) from AED8.51 bn in 2008. However, since the FY 2008 NI number included a one-off AED892 mn gain on the sale of shares  in Mobily (after a federal royalty), adjusting FY 2008 NI brings it to AED7.62 bn, which implies [...]

Bahrain Telecommunications CEO expects FY 2010 NI roughly in line with FY 2009, which came to BHD105 mn ($278.6 mn) as start-up costs for its new Indian unit drain expenditures. The Indian subsidiary S Tel that started operations late in 2009 and reached 500,000 subscribers last week. The company’s FY 2009 revenues were up by [...]

State-owned Vnesheconombank (VEB) will take over the management of a 29.9% block of shares of Rostelecom from Russia’s Deposit Insurance Agency, which owns the shares. The transfer of control was ordered by the Russian government on January 19th. VEB itself owns 9.8% of Rostelecom shares. Both blocks of shares landed in the hands of the [...]