Etisalat (Emirates Telecommunications), a telecom operator based in the UAE, is on the lookout for a creative partner. Etisalat has picked up 45 per cent stake in Indian telecom firm Swan Telecom Pvt Ltd for $900 million in a move to enter the Indian market.
It may be recalled that in September 2008 Etisalat and Swan Telecom had signed the deal that has paved the way for Etisalat’s entry in the telecom sector in India. Swan Telecom, controlled by Mumbai-based real estate and hospitality business group Dynamix Balwas (DB) Group, holds universal access service (UASL) licences in 13 telecom circles across India.
It is known that agencies have been called for presentations, but their names couldn’t be ascertained at the time of filing the report. Industry sources have informed that the ad spend is estimated to be substantial.
Etisalat operates in 16 countries across Asia, the Middle East and Africa, servicing over 6.4 crore customers. Etisalat among several global players poised to enter the Indian market. It will face some stiff competition from existing operators and well-entrenched players such as Bharti Airtel, Reliance Communications and Vodafone. Some of the new entrants include Sistema Shyam Teleservices, Datacom (backed by Videocon) and Unitech Wireless.