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FINANCIAL NEWS
Mobinil to expand subscriber base this year
12 Feb 2008
(MENAFN) The Chief Financial Officer of Egyptian mobile operator Mobinil said that the company expects revenue growth to slow to 5 percent in 2010 and to boost its subscribers to 28 million by the end of the year, AFP reported.
Mobinil, which leads Egypt’s competitive mobile market by number of subscribers, said it had 25.35 million customers at the end of December.
By comparison, Vodafone’s Egyptian unit added 1.26 million subscribers in the same period to reach 23.33 million, the London-based company said earlier this month.
The official saw no end to the price war with Vodafone Egypt and Etisalat Egypt that peaked in the third quarter with offers to coincide with Ramadan.
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