Etisalat linked with $1bn Tata stake

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INDIA EXPANSION: Etisalat may compete for a $1 billion stakein India's Tata Teleservices. (ITP Images)

UAE telecom Etisalat may compete with Mexican billionaire Carlos Slim and Russia's Altimo for a $1 billion stake in India's Tata Teleservices, Al-Khaleej newspaper reported on Tuesday.

Etisalat is likely to make the best offer, the UAE newspaper reported, without saying how it got the information.

"We have already mentioned we are evaluating several opportunities in India," Etisalat Chairman Mohammed Omran told newswire Reuters on Tuesday.

"We haven't decided to select one at this stage. It is still too early," he said, declining to comment directly on the newspaper report.

A Tata Teleservices spokesman declined to comment on the specifics of the story, saying "we continue to evaluate all options".

State-owned Etisalat said last month it was looking to invest as much as $4 billion in India, either buying into a telecom provider or a licence.

RELATED: Etisalat to splash $4bn on India expansion

The company had held talks with India's Spice Communications about a possible investment, Omran said last month. (Reuters)

RELATED: Etisalat in talks over India expansion

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