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FINANCIAL NEWS
STC bids for license in Syria
03 Apr 2011
(MENAFN) Saudi Telecom (STC) stated that it made a bid for acquiring a mobile license in Syria as the country has potential of telecom growth due to its low mobile penetration rate, reported Gulf Daily News.
The company said that as only two mobile service providers are currently in the country, which are MTN and Syriatel, thus STC has great potential for acquiring a considerably strong market share in the country.
The company stated that its offer included all technical and operational aspects needed for acquiring the license, and that the Syrian government would be in charge of determining the financial aspect of the agreement if approved.
It is worth noting that so far, five operators qualified for acquiring a license in Syria including Qtel, Turkcell, France Telecom and the UAE’s Etisalat. It was reported that Etisalat had recently dropped its offer.
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