UAE-based Emirates Telecommunications Corp (Etisalat) has signed an agreement to acquire 45 per cent stake in India's Swan Telecom for around $900 million.The deal puts the value of the Indian GSM service provider at around $2 billion.
Etisalat has operations in 16 countries, including Saudi Arabia, Pakistan and Egypt, and was looking at entering the Indian market, which is the second largest in terms of subscribers in the world. (BS)