Etisalat keeps option to leave DB venture open

Etisalat, the $8.7 billion telecom major based in the UAE, may exit the joint venture it has with Dynamix Balawas (DB) group depending on the outcome of the investigation into the Rs 1,76,000 crore 2G spectrum scam. Etisalat is simultaneously in negotiations with telecom operators like Idea Cellular of Aditya Birla group and Reliance Communications (RCom) to pick up equity stake in either of them. Both of them have 3G spectrum. One thing that Etisalat has signalled is that it will continue to stay put in the Indian telecom market that offers opportunities as well as challenges.