UAE based Emirates Telecommunication Corporation (Etisalat) has written off investments worth $827 million from its Indian Joint Venture, Etisalat DB.
The move is seen as a deliberate attempt by the operator to exit India, after the SC cancelled 121 2G licences recently. However, the company may revisit India?s telecom market at a later stage through a merger and acquisition route.
The development follows a similar move by Norway based Telenor to write down $721 million from its Indian operations.
