Sunday, February 24, 2013

UAE Etihad’s Pause Highlights India Investment Risk


The sudden display of caution by Etihad Airways over taking a stake in Jet Airways is the legacy of a string of failed forays by Gulf investors into India.
Etihad’s chairman, who is also head of Abu Dhabi’s sovereign wealth fund, told Reuters this week the Jet deal needed to be revised and it was too soon to say when a final agreement will be struck.
The backtracking on a deal reported to be near completion highlighted investor apprehension about India and recalled how the UAE’s biggest telecom operator Etisalat was badly burned by a recent tilt at the south Asian country.
“It’s a very difficult market to invest in and many investors have had their fingers burned,” said Khuram Maqsood, executive director and head of private equity at Dubai-based Al Murjan International Holding.
24/02/13 Reuters/Gulf Business.com
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