Won't participate in 2G-Spectrum auction: Etisalat

Telecom major of United Arab of Emirates (UAE) Wednesday announced that it would not participate in the fresh auctioning of 2G-Spectrum allocation that is likely to be held in coming November.

"Etisalat Group has decided not to participate in the auction," said the UAE telecom major in a released statement as it is not willing to re-participate after being cancelled its owned licences.

"Following the publication by India's Ministry of Communications and Information Technology of the information memorandum for the planned auction of spectrum in 1800MHz and 800MHz bands, the Emirates Telecommunications Corporation (Etisalat) wishes to confirm that it has decided not to participate in the auction," the company said in a statement.

"Etisalat Group believes the Indian telecommunications industry has significant potential and it has high regard for the government of India, its judiciary, and its regulatory bodies and wishes a positive outcome for the forthcoming auction," it added.

Earlier this year, Etisalat DB, the joint venture between Abu Dhabi-based Etisalat and India's DB Group, had announced closure of its services in India following the Supreme Court cancelling 122 spectrum licences, including 15 of Etisalat, which had over 1.6 million subscribers.

Etisalat had also written off its investments worth $827 million in Etisalat DB.

--With IANS Inputs--