image description
image description

Archives


  • 10-02-12

    UAE's Etisalat's 2011 profit down 23.4%

    (MENAFN) UAE's Etisalat said that net profit for 2011 dropped 23.4 percent from USD2.07 billion in 2010 to USD1.58 billion, reported Emirates 24/7. The Gulf's top telecom operator by market value added that profit declined as the firm wrote off the USD827 million value of its operation in India. Emirates Telecommunication Corp Ltd also said that in 2008, it paid USD900 million for a 45 percent stake in India's Swan Telecom, after the license had been granted, moreover, Etisalat said that it invested over USD1 billion in the venture, which was renamed Etisalat DB. Furthermore, Etisalat DB, which has licenses for 15 of India's 22 telecom zones, has 1.7 million subscribers, and as of December, its subscribers ranked it 14th in a 15-operator market. It is worth noting that India's Supreme Court ordered the cancellation of licenses awarded during a scandal-tainted auction in 2008, including those held by Etisalat DB.

Follow us

RSS
Terms & Conditions  |  Privacy & Security  |  Contact Us  | Sitemap
© 2024 BBK  |  All Rights Reserved