There was a lot of discussion here when Airtel entered the market. So much so that we used to receive phone calls asking for employment! Part of what we said then was they hurt themselves by being slow to enter after the announcement. It appears the damage could not be undone.
India’s Economic Times said citing two unnamed sources said Standard Chartered was advising Airtel on the sale and the firm was valued at between 110 to 130 million US dollars.
The newspaper said Bharti Airtel and Standard Chartered declined comment and Etisalat could not be reached.
The report said Airtel had invested 300 million US dollars and hard acquired 1.7 million subscribers but had not made profits as the fifth operator.