Etisalat has increased its holding in its Indian mobile network by buying a 5.37% stake from Chennai-based Genex Exim Ventures. According to Economics Times, the company paid around Rs 380 crore (about $81 million) for the stake, pushing its holding in the carrier to above the 50% mark.
Earlier this year, Etisalat acquired 45% of Swan Telecom for $900 million, and have renamed the company to Etisalat DB, later in the year. It was also recently reported that Etisalat DB is in talks to merge with another operator – Allianz Infratech…
[Via: CellularNews]