Etisalat says won't participate in 2G auction
Telecom service provider Etisalat Wednesday said it will not participate in the 2G spectrum auction in November.
"Following the publication by India's Ministry of Communications and Information Technology of the information memorandum for the planned auction of spectrum in 1800MHz and 800MHz bands, the Emirates Telecommunications Corporation (Etisalat) wishes to confirm that it has decided not to participate in the auction," the company said in a statement.
"Etisalat Group believes the Indian telecommunications industry has significant potential and it has high regard for the government of India, its judiciary, and its regulatory bodies and wishes a positive outcome for the forthcoming auction," it added.
Earlier this year, Etisalat DB, the joint venture between Abu Dhabi-based Etisalat and India's DB Group, had announced closure of its services in India following the Supreme Court cancelling 122 spectrum licences, including 15 of Etisalat, which had over 1.6 million subscribers.
Etisalat had also written off its investments worth USD 827 million in Etisalat DB.