UAE telecom services operator Etisalat has announced plans to boost stake in its Indian subsidiary Etisalat DB from 44.73 per cent to 50 per cent plus one share.

The announcement comes a day after the Emirati telecom giant posted record 2009 net profit of Dh8.83 billion ($2.4 billion) and a net revenue of Dh30.8 billion.

The company had filed an application on December 3 last year seeking approval from the Indian Foreign Investment Promotion Board (FIPB) for stake boost, Etisalat said in a statement.

Mumbai-based Etisalat DB Telecom has the unified services access licence in 15 circles including Andhra Pradesh, Delhi, Gujarat, Haryana, Karnataka, Kerala, Maharashtra, Mumbai, Punjab, Rajasthan, Tamil Nadu (including Chennai), Uttar Pradesh (East), Uttar Pradesh (West), Madhya Pradesh and Bihar.

These licenses enable the company to provide a full spectrum of telecom services covering a population of over 900 million across these circles.

With this licence the company can also provide Internet Telephony, Internet Services and Broadband Services, the statement added.

Etisalat DB’s services will include national & international long distance telephony solutions, full range of prepaid and postpaid products, national and international roaming and value-added services.-TradeArabia News Service