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FINANCIAL NEWS
Etisalat to tackle six countries for expansion
19 Feb 2010
(MENAFN) Emirates Telecommunication Corporation, known as Etisalat, said that it is currently exploring green-field business opportunities in several Mideast countries including, Iraq, Libya, Lebanon, Oman, Syria and Morocco, Khaleej Times reported.
The carrier’s Chairman, Mohammad Omran, indicated that there are six possible markets which would involve both the acquisition of green-field licenses within markets with low penetration levels and industry consolidation. He emphasized the significant importance of size and scale in order to avoid small operators being marginalized.
The chairman said that Etisalat is in an excellent financial and operational position to capitalize on these opportunities. He added that that the telecom firm is committed to investing in new technologies across the Middle East, Asia and Africa.
In the coming few months, Etisalat will be introducing new technology which will enable downloads of up to 42mbps, which will grow to 84mbps by end of year.
It is worth noting that Etisalat is the Arab world’s second largest telecommunication company.
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