Etisalat, the United Arab Emirates’ leading telecom operator, will facilitate 1.75 million Indian nationals living in the UAE to send money home using their mobile phones. The company has partnered with Citibank in India to enter the $10 billion remittance market with a new service.
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Category: Etisalat DB Telecom India
Firming up its plans of rolling out telecom services in the country, new telecom operator Etisalat DB Telecom India has signed $150 million (Rs 750 crore) outsourcing deals with three BPO service providers. The new GSM service provider has entered into five-year outsourcing deals with Tech Mahindra, Aegis and Conflux.
Nasdaq-listed Millicom International Cellular S.A. has sold its Sri Lankan operations, Tigo (Private) Limited, to Egypt’s Etisalat for about $155 million. India’s Bharti Airtel, state-owned Bharat Sanchar Nigam Ltd (BSNL), Russia’s Vimpelcom and Malaysia-based Axiata were other players in the fray.
Etisalat DB Telecom’s proposed acquisition of Allianz Infratech has run into bad weather, with the Department of Telecommunications (DoT) opposing it citing the recent three-year lock-in period clause. According to reports by in the Indian media (Hindu Business Line and DNA Money have reported the story), DoT has informed the companies that the merger “cannot be permitted before the lock-in period of three years”.
The ongoing tariff war in the country is likely to pull service providers’ Average Revenue Per User (ARPUs), a metric to gauge a telecom company’s financial strength, by 10-15 per cent, according Fitch Ratings. The credit rating agency also expects competition on pricing front to have a “significant” impact on industry revenues and profitability of telecom companies. continue reading…
In keeping with its forthcoming rollout of telecom services in India, Etisalat DB Telecom and its subsidiary Allianz Infratec, have awarded a $400 million (Rs 2,000 crore) IT applications and infrastructure outsourcing contracts to IT major Tech Mahindra.