Etisalat seeks to wind up JV with DB

Monday 25 November 2013 | 02:07 CET | News
The Bombay High Court has accepted a petition from Etisalat to wind up its mobile joint venture with DB Group, PTI writes. Etisalat DB is caught up in the 2G spectrum allotment scam and some of its directors are facing criminal proceedings. Etisalat said this caused a loss in reputation for the company. The court accepted the petition acknowledging there is a deadlock between the main shareholders of the company and Justice S J Kathawalla said there is a "complete lack of faith and probity resulting in irretrievable breakdown between the major shareholders of the company. The liabilities of

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Categories: Mobile & Wireless
Companies: Etisalat
Countries: India
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