Software services firm Tech Mahindra today said it will discuss with telecom operator Etisalat DB on the fate of their Rs 2,000 crore outsourcing deal.
Reacting to reports of the Abu Dhabi-based firm Etisalat deciding to exit India,Tech Mahindra said it is yet to receive an official communication from the telecom operator and will discuss the matter with Etisalat DB subsequently.
Etisalat holds 44.73 per cent stake in the joint venture with DB Group — Etisalat DB.
“We have heard from the media about EDB’s decision to withdraw operations from India. We await an official communication from them on the decision about cessation of operations. We will have discussion with them subsequently,” a company spokesperson said.
Etisalat DB had in 2009 outsourced its IT applications services to Tech Mahindra in a deal valued at about Rs 2,000 crore.
Yesterday,Etisalat said it will exit from India following the Supreme Court ruling to cancel 122 UAS licenses issued by the Government of India in January 2008.
These included 15 licenses of Etisalat DB,which offers offers services under the ‘Cheers’ brand name and has 1.67 million subscribers.
Etisalat is the second foreign company,after Bahrain Telecom,to exit India,following the apex court ruling of February 2.