Emirates Telecommunications Corp., the United Arab Emirates’ biggest phone company, is in talks for mergers and acquisitions with India’s Reliance Communications Ltd. to expand in the world’s second-largest wireless market.
Etisalat was “studying opportunities for M&A” with Reliance, India’s second-biggest cellular phone operator, Chairman Mohammed Omran told Bloomberg News in Sydney today, without elaborating. The company, based in Abu Dhabi, was also talking to other operators about deals, aiming to forge agreements within the next year, he said.
Purchasing a stake in an Indian cellular operator would give the Middle East carrier, also known as Etisalat, a foothold in a market set to approach 1 billion users, or more than three times the population of the U.S. Etisalat said earlier this month it’s considering investing in Idea Cellular Ltd., which also provides mobile phone services in India.
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