Every month, we bring you a listing of the biggest deals struck by Indian companies in India and abroad. Our partner: global professional services firm Ernst & Young. Here are the deals that were struck in September 2008.
Deal of the month: In yet another deal in the Indian telecom sector, the second-largest Arab telecom company by market value, Emirates Telecommunications Corp., or Etisalat, agreed to buy a 45 per cent stake in Swan Telecom, one of the new mobile operators in the country, for Rs 4,075.3 crore in cash.
The remaining 55 per cent of the shares of Swan Telecom are held by several entities, including its promoters Dynamix Balwas Group, a Mumbai-based real estate and hospitality group.
Impact analysis: Swan Telecom has licences to provide GSM mobile phone services in 13 out of 22 circles in India. Swan will be launching its operations in the first quarter of the next financial year. It has received spectrum in 10 circles, including Delhi.