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etisalat 'may bid for stake in Tata firm'

etisalat may compete with Mexican billionaire Carlos Slim and Russia's Altimo for a $1 billion stake in India's Tata Teleservices Ltd, Al Khaleej newspaper reportedon Tuesday.

  • Reuters
  • Published: 00:41 May 14, 2008
  • Gulf News

Dubai: etisalat may compete with Mexican billionaire Carlos Slim and Russia's Altimo for a $1 billion stake in India's Tata Teleservices Ltd, Al Khaleej newspaper reported on Tuesday.

"We have already mentioned we are evaluating several opportunities in India," etisalat chairman Mohammad Omran said on Tuesday. "We haven't decided to select one at this stage. It is still too early," he said.

A Tata Teleservices spokesman declined to comment on the specifics of the story, saying "we continue to evaluate all options."

State-owned etisalat said last month it was looking to invest as much as $4 billion in India, either buying into a telecom provider or a licence.

The company had held talks with India's Spice Communications about a possible investment, Omran said last month.

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