UAE telecoms operator Etisalat on Sunday said Indian affiliate Etisalat DB would contest charges filed by Indian authorities relating to the allocation of its 2G licence in January 2008.
India may have lost up to $39 billion in revenue when the telecoms ministry gave out lucrative licences and radio spectrum in 2007/08 at below-market prices as many ineligible firms won licences.
Reliance Telecom, Etisalat DB and Unitech Wireless were charged in April. Indian authorities framed these charges on Saturday, Etisalat said in a statement to the Abu Dhabi bourse, the latest step in the judicial process.
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