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FINANCIAL NEWS
Etisalat considers new bid for Syria mobile license
10 Jun 2011
(MENAFN) Etisalat telecommunications company said that if terms would be right, it would think about a new bid for a mobile license in Syria, reported The National.
The Abu Dhabi based company added that although it planned to expand its global footprint, nevertheless, it would be cautious in finding new opportunities, bearing in mind the political situation and the mobile license terms applied in the place where it would establish investments.
It also said that it would always consider overseas expansion to compensate lower profits in the Emirates; moreover, it had no intentions to raise capital at the moment.
It is worth noting that UAE’s biggest telecommunications provider’s capital expenditure declined 28 percent in the first quarter of this year compared with the same quarter in 2010 reaching USD302 million, whereas its profit reached USD490 million after payments of royalties to the UAE government, a 9 percent decline from the same quarter a year ago.
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