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The DB Realty scrip on the Bombay Stock Exchange fell 5.12 per cent to Rs 84.35 on Thursday, prompting the company to issue a statement to make clear that it does not directly or indirectly hold any shares of Etisalat DB.
DB Realty said since last evening there had been a lot of speculation in the media about Etisalat's decision to exit from its Indian telecom business and its impact on DB Realty.
no suit against db
The real estate company said the promoters of DB Realty in their individual capacity invested in Etisalat DB, a company engaged in telecom business.
Both the entities were separate and had nothing to do with each other. Etisalat's decision to shut down the operation of its Indian joint venture was taken independently by Etisalat UAE and the decision will have no bearing on the financials of DB Realty.
No suit or claim has been filed against DB Realty since it was never party to any agreement or otherwise.
DB Realty was and remains an independent corporate entity, the statement added.
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