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FINANCIAL NEWS
UAE’s Etisalat to develop networks in core markets
22 Sep 2012
(MENAFN) UAE’s largest telecoms operator Etisalat plans to use the cash from stake sale in Indonesia’s PT XL Axiata to strengthen its networks in core markets and roll out additional services, Reuters reported.
Earlier this month, Etisalat complete the sale of 9.1 percent in PT XL Axiata for USD510 million, retaining a 4.2 percent holding.
The Indonesian sale, which followed an exit from India, was seen as part of a broader push to trim back on underperforming units.
Etisalat has already launched long-term evolution (LTE) next-generation networks in the UAE and Saudi Arabia.
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