Emirates Telecom Corp, UAE's biggest phone company, also called Etisalat, has recently been in the news for its intentions to buy a stake of two Indian telecom service providers.
Earlier it was reported to be eyeing a stake in Reliance Communications. The company has already denied such a move in the near future.
And now it is rumored to be seeking a stake in Idea Cellular. Jamal Al-Jarwan, chief executive officer for international investments at Etisalat has been reported to have said said, "There are many options in India, and we are not excluding Idea Cellular." But he did not say that he is talking to Idea, or has any firm plans to buy stake in the operator.
Rajat Mukarji, Idea Cellular's official spokesperson has denied plans to sell to Etisalat. He said the company has not been approached by Etisalat and added, "These are pure speculations. We have not been approached by Etisalat".
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