There are new suitors emerging for a stake in Tata Teleservices, one of the top six telcos in India. Mexican billionaire Carlos Slim’s Telcel, UAE’s Etisalat, Russian operator Altimo, besides private equity firm Apax Parrtners, could be the potential buyers of a stake in Tata Tele, The Economic Times reported today. The Mumbai firm could rake in $1 billion at an enterprise valuation of over $10 billion, the report further said.
Etisalat, whose India plans were recently well articulated by its chairman Mohammed Omran in Abu Dhabi, is said to have emerged as the front-runner for the stake. Omran had recently indicated his interest in the other Indian telco Spice Communications. He had [...] Read full story