The UAE-based Emirates Telecommunications Corporation (Etisalat) on Wednesday said it will not participate in the upcoming spectrum auction.
The company had entered the Indian mobile market in 2008 through a joint venture with the DB Group to form Etisalat DB. But the licences were cancelled by the Supreme Court order. Since then the company has shut down all operations.
Etisalat is the first player to come out with its position on the upcoming auction. Other foreign players affected by the Supreme Court order — Telenor and Sistema — are yet to spell out their strategies.
While announcing its decision to withdraw from the Indian market Etisalat Group said it believes the Indian telecommunications industry has significant potential and wished a positive outcome for the forthcoming auction.