The Indian home ministry has stated that it will approve UAE based Etisalat’s plan to increase its stake in Etisalat DB by another 5.27 per cent, only if the company severs all links with its promoter Shahid Usman Balwa.

The Indian home ministry has stated that it will approve UAEbased Etisalat’s plan to increase its stake in Etisalat DB by another 5.27 per cent, only if the company severs all links with its promoter Shahid Usman Balwa. The ministry did not give any reason for its unusual demand, which has led the FIPB to defer the proposal again. This is the third time the government has failed to clear Etisalat’s plan to become the majority owner of the company.