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Etisalat buys stake in Excelcomindo
- United Arab Emirates: Wednesday, December 12 - 2007 at 06:38
UAE-based Etisalat has acquired a 15.97% stake in the Indonesian mobile operator Excelcomindo, the third largest mobile operator in Indonesia. Etisalat agreed to pay $438m for the stake, implying the equity value of Excelcomindo to be $2.742bn. With this acquisition, Etisalat now operates across 16 countries worldwide.
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Jeff Florian, Senior ReporterWednesday, December 12 - 2007 at 06:38 UAE local time (GMT+4)
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