23 Feb 2010
(MENAFN) Emirates Telecommunications Corp (Etisalat), the Gulf region’s second-largest telecommunications firm by market value, said that it close to ink an agreement to buy a majority stake in Iraq’s Korek Telecom, Reuters reported.
Etisalat’s Chairman, Mohammad Omran, said that the company aims to double its revenues from overseas operations in the coming three years, noting that Etisalat has been expanding aggressively outside its home-country, the UAE, since its monopoly was broken by Dubai-based du in 2007.
Iraq currently has three mobile phone operators, Kuwait’s Zain, Korek and Asiacell, a unit of Qatar Telecommunications, each of which got the license for $1.25 billion.
Omran said that Etisalat is almost near to finalizing the deal with Korek, adding that the firm was in talks to buy a majority stake in the northern Iraq-based telecom firm.
Earlier this month, Etisalat announced that it is eyeing six markets in the Middle East and North Africa region, and it was still investigating for acquisitions or new licenses.
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
05 Nov 2024
As part of its digital transformation journey, BBK adds Google Wallet to its range of digital wallets
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more