UAE-based Etisalat said on Thursday the company never obtained control of Etsialat DB (EDB) because authorities in India did not permit it to pay control premium to its Indian partner Majestic Infracon (MIPL) on alleged credibility concerns of its promotor Shahid Balwa. "A control premium was not paid to Majestic/Balwa as Etisalat never obtained control. The Indian Authorities did not permit it because they were concerned about the standing of Mr Balwa, including allegations of his links to underworld figures," Etisalat said in an e-mail reply to PTI.
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