Etisalat buys 45% stake in Swan Telecom
The Middle East's largest telecom services provider Etisalat is set to enter the booming Indian market after it bought a stake in the newly licensed Indian operator, Swan Telecom. The United Arab Emirates (UAE)-based Etisalat announced on Tuesday that it has bought a 45 per cent stake in Swan Telecom by subscribing to newly issued shares for a cash consideration of up to $900 million, implying a post-money equity value for 100 per cent of the company.
