Etisalat has sought approval from the Foreign Investment Promotion Board (FIPB) to raise its stake in its Indian subsidiary Etisalat DB which is in alliance with Swan Telecom from the present level of 45 % to 50% plus one share i.e. majority stake.

Meanwhile the company announced that it has scaled the 100 million subscriber mark for its operations spread over 18 geographical markets across the globe.

The company reported net revenues of 30.83 billion dirhams for the year 2009 at a rise of 5% and net profits of 8.836 billion dirhams at 16 % rise.