United Arab Emirates' telecom operator Etisalat on Wednesday said it would shut down its India joint venture, making it the second foreign company after Bahrain Telecom to exit the country following the Supreme Court's decision early this month to cancel 122 telecom licences issued by government of India in 2008.
While the decision will impact about 1.7 million customers, who have time till June to migrate to a new operator, over 2,000 employees would also be laid off, executives linked to the company told ET.
The move comes within a day of S Tel, which has about 3.5 million users, deciding to shut operations.
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