UAE's Etisalat eyes Indian acquisitions

Emirates Telecommunications (Etisalat) is in talks with several Indian telecoms companies about imminent acquisition as an entry to the world's second-largest mobile phone market, a Reuters report said.

Etisalat chairman Mohammed Omran said, 'We are hoping to move to the next stage before the summer. The next stage would be finalising a deal, making an acquisition.'

Etisalat, the second-largest Arab telecoms company by market value, has had talks with India's Spice Communications and unspecified others. Omran stated the company is also looking at entering Vietnam and plans to expand in Africa. Etisalat already operates in Egypt, the most populous Arab nation, through a minority stake in a mobile phone operator.