Many of Dubai Holding’s units have had to hold talks with banks to extend liabilities and restructure debt.
The Qatari telecoms company said that it withdrew because of the valuation and frustration with the process.
The deal marks Qatar’s first major investment in a listed Indian company.
The telecoms operator will offer 55.9 million shares at one dinar each.
The rescheduled payment, spread over seven years, will be treated as a commercial loan.
UAE’s Etisalat has reportedly offered a higher price than rival Qatari bidder Ooredoo for Vivendi’s 53 per cent stake in Maroc Telecom.
Sheikh Mohamed bin Isa al-Khalifa has been temporarily replaced by long-serving Peter Kaliaropoulos
A software engineer claimed that the company had asked him to build surveillance tools to intercept customers’ messages on Twitter.
Etisalat recently announced that it has unblocked Skype, but VoIP services by external providers are still banned in the UAE.
The Kingdom plans to sell three mobile virtual network operator licences as part of a plan to liberalise its telecom market.
The smartphone manufacturer will launch the device in Europe and China in June, with other markets following shortly.
Bahrain’s biggest telecom group has now reported a fall in profit in 11 quarters out of 12 and has seen its market share eroded by rivals.
Omantel made a net profit of $75.6 million in the three months to March 31.
The deal is being channelled through Qatar Foundation Endowment.
The telco made a net profit of Dhs467.9 million ($127.38 million) in the three months to March 31, up from Dhs333.13 million in the year-earlier period.
The telecoms group made a net profit of 808 million riyals ($222 million) in the three months to March 31, up from 711 million in the year-earlier period.
The company said increased depreciation arising from network modernisation had impacted its net profit.
A statement from Etisalat on Friday could reinforce speculation among some investors that it will also buy the state’s holding.
Wataniya made a net profit of 19.5 million dinars ($68.4 million) in the three months to March 31, down from 28.3 million dinars in the year-earlier period.
The firm posted a net profit of SAR1.55 billion, attributing the profit drop to charges relating to an Indian affiliate.
Mobily’s revenue for the three months to March 31 was 5.63 billion riyals, up from 5.01 billion riyals from the prior-year period.
The UAE telecoms operator has already secured the backing of 12 banks and up to four more could join.
Kyle Whitehill will replace outgoing chief executive Richard Daly from June.
The affiliate of Kuwait’s Zain, made a net loss of 398 million riyals ($106.13 million) in the three months to March 31.
Zain Bahrain has been instructed to sell 15 per cent of its shares in the IPO and list on Bahrain’s bourse.
Telecomes operators are surging ahead with plans to build greater data storage and boost internet speed in the GCC.
Kuwaiti telecoms operator Zain holds a 56.3 per cent stake in Zain Bahrain.
The UAE telecoms operator had been blocking Skype, the free internet-to-internet phone calls site, for several years.
French media group Vivendi aims to offload its 53 per cent holding in Moroccan firm Maroc.