Swan Telecom, which has licences to provide cellular services in 13 telecom circles, is reportedly negotiating with foreign companies for diluting 26 per cent of its equity for around $470 million.

Swan Telecom, which has licences to provide cellular services in 13 telecom circles, is reportedly negotiating with foreign companies for diluting 26 per cent of its equity for around $470 million.

Etisalat is learnt to be one of the prospective clients to have entered into exclusive talks with the service provider. According to industry sources, the company’s enterprise value is pegged at around $2.2 billion including debt. Meanwhile, Etisalat is reported to have pulled out of talks for the acquisition of the 9.7 per cent stake held by Chennai-based industrialist C. Sivasankaran in Tata Teleservices Limited, after the two parties failed to reach a conclusive decision on the price.