Taking a strong exception on being involved in telecom corruption in India, the Emirates Telecommunications Corporation (etisalat) on Wednesday rubbished the charges adding that it has nothing to do with the UAS license application process.
Yesterday, UAE telecom operator Etisalat has alleged that a majority stake in Kuwait's Zain valued at $12 billion will be purchased as offered for which there is extension in its limit.
Etisalat has declared in a report released in Abu Dhabi that after the declaration of a perfect deal, the work will be resumed.
Members Board of Directors, Warid Telecom and Wateen Telecom and the chief members of the Dhabi Group, Mr. Bashir Tahir and Pervez Shahid have, according to reports have withdrawn from their posts, as confirmed by a local newspaper and certain other multiple sources.
According to the newspaper, the resignation from the two brothers was because of certain personal reasons.
UAE telecom giant, Etisalat has signed MOU to have a tie up with a globally recognized consortium to run 13,000km long extended fibre optic cable which will pass via India ME and Europe. IMEWE stands for India, Middle East, Egypt and Europe.
This joined consortium will launch highly energy efficient cable coils which must have the capacity of transferring 3.84 terabits of data per second. It will upgrade the whole telecommunication system in ME.
A recently published report has shown that close to 50 per cent of UAE residents are unhappy with the cost of keeping a mobile phone.
Kuwait's Kharafi-associated stocks fell on Monday due to the apprehension among the investor that the group's consortium will not be able to finish its deal to sell a 46-percent stake in telecoms operator Zain.
On Sunday UAE telecommunications major Etisalat held that it is interested to buy a 46 per cent stake in Kuwait's telecommunication company Zain from a association which is headed by a major Zain shareholder.
An Etisalat spokesperson declared that the 46 per cent uncertain deal is still on as this has been agreed upon in the primary proposal.