Etisalat DB is moving closer to exiting the Indian telecom market.
As per the Supreme Court?s verdict in the 2G spectrum case, the operator faces cancellation of 15 licences. Thereafter, the company announced its plans to exit the market and issued a statement in this context.
Shortly after that, it was reported that Etisalat was taking action against its Indian joint venture partners on grounds of fraud and misrepresentation.
The company had initiated legal proceedings against Vinod Goenka and Shahid Balwa, both promoters of DB Realty and Majestic Infracon Private Limited, a DB Group company.
In 2008, Etisalat had paid $900 million for a 45 per cent stake in Swan Telecom, later renamed Etisalat DB, with Majestic and other minority investors owning the rest.
Now, as the next step, the company has advised its customers in India to transfer their mobile number to another operator prior to the scheduled suspension of its services on March 31, 2012.
In a statement, Etisalat said, ?Customers are encouraged to port out their Cheers number to a network of their choice as soon as possible by following the process prescribed by India?s telecommunications regulator the TRAI.?
?Subscribers may visit www.cheersmobile.in or call 121 for instructions on completing the transition.?
?Cheer?s wishes to thank its subscribers for their custom and regrets any inconvenience caused.?
