UAE's Etisalat said on Thursday that it may reconsider plans to bid for Syria's third mobile licence if the terms of the deal are changed, after pulling out from the bidding in March.
"If the terms of the Syrian mobile licence are changed, Etisalat will analyse the new terms," the telecom operator said in a statement to the Abu Dhabi bourse.
Etisalat, which also withdrew a $12 billion takeover offer for Kuwaiti rival Zain earlier this year, had pulled its Syria license bid saying it was disappointed with the terms.
The company had been one of five firms to have qualified for the licence auction.
Syria, which is grappling with political unrest, delayed the bidding for the country' third mobile operator licence, according to another bid hopeful Saudi Telecom.
Etisalat established a $7 billion global medium-term note (GMTN) programme and a $1 billion sukuk programme last year, allowing it to issue conventional or Islamic bonds when needed.
The telecom operator said that it had no need for a bond issuance currently and the establishment of its GMTN and sukuk programme was to prepare for a future bond, if needed.
The Gulf Arab region's No. 2 telecoms group has an A+ rating from Fitch.
The company, which operates in 18 countries including Egypt and India but derives 85 percent of its income from domestic operations in the United Arab Emirates, is among Gulf telecom operators looking to expand overseas after losing their monopoly at home.
A potential Zain deal would have provided Etisalat access to markets in Kuwait, Iraq, Bahrain, Jordan, Lebanon and Sudan.
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