It's 829-million dollar hit: says Etisalat

Etisalat said the court decision "significantly alters the competitive landscape" in India's telecom market

PTI | February 10, 2012



The UAE telecommunications firm Etisalat on Thursday said it is taking a $829-million hit to its earnings to account for Indian operations in the wake of a recent ruling of the Indian Supreme Court scrapping 122 2G licenses.

The Abu Dhabi-based company said the court decision "significantly alters the competitive landscape" in India's telecom market.

Etisalat said it will take a 3.044 billion dirham ($829 million) impairment charge linked to the fallen value of the Indian unit.

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