Etisalat eyes Indian market through RCom

Etisalat eyes Indian market through RComIndia's second largest telecom player could be the vehicle for a Abu Dhabi company that eyes big on India. Etisalat from Dhabi is looking forward to sign a deal with Reliance Communications (RCom) for entering into the Indian telecom market.

While Etisalat is mulling its options, there is news that US telecom major, AT&T, is also thinking of investing in RCom.

With two investors at its side, the things are very rosy for RCom that is the only major local telecom player till now which does not have a foreign investor.

The total value of RCom is said to be $7.7 billion and on Sunday it said that it is ready to sell 26 per cent of its stake. This will be done to either a PE player or a strategic partner.

It is also said that Mukesh Ambani ended the agreement between the two brothers so that Anil Ambani could bring in investors for his debt-laden company.

However, there is no time-frame in sight. Nor has the company given any kind of details about the possible deals.

Earlier, South Africa's MTN was also considered to be a party in the whole mix-up.