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Etisalat buys 45% in Swan Tele for $900 m
Emirates Telecommunications Corporation (Etisalat) has bought 45% stake of Swan Telecom Private Ltd, one of the companies which had recently got the licence for offering mobile services. Etisalat will pay $900 million for the stake, implying an enterprise value of $2 billion.
Swan Telecom holds UASL (Universal Access Service Licences) in 13 telecom service areas (out of 22) in India, and is in the process of acquiring licences in additional two telecom service areas.
Etisalat is the largest telecom operator in the UAE and provides telecommunication services in 16 countries totaling 64 million subscribers – source
9.16 mn subscribers added in Aug
Telcos witnessed addition of 9.16mn subscribers in the month of august.
Telecom stats as of August 2008:
- The total wireless subscriber base, which includes GSM, CDMA and WLL(F), stood at 305.24 million at the end of August 2008.
- The total number of telephone connections reaches 343.87 m
- The overall tele-density has reached 29.83 per cent at the end of August 2008,
- Total Broadband subscribers base has reached 4.73 million – source
Telco JVs rings in legal disputes
During the last fiscal, Bharti Airtel spent a whopping Rs 907 crore on ‘legal and professional expenses’ while the figure for Tata Communications (earlier VSNL) was Rs 421 crore. Reliance Communications clubbed it with administrative expenses, which stood at Rs 770 crore. – source
Idea Cellular raises $ 100 m from IFC
IFC, a World Bank member, has lent $ 100 mn loan to Idea Cellular to strengthen its network and enable the telecom company to offer services in Bihar. – source
No auction of 2G spectrum
Telecom operators wanting to use 2G spectrum for mobile telephony services in the country beyond 6.2 MHz will have to pay additional charges – the government will fix additional charges for those telecom operators who are willing to subscribe to 2G spectrum beyond 6.2 MHz – source
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