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FINANCIAL NEWS
UAE’s Etisalat will retain footprint in foreign markets: CEO
15 Oct 2012
(MENAFN) UAE’s Etisalat CEO Ahmad Julfar confirmed that the company will not leave foreign markets, Reuters reported.
Last month, the UAE firm, which operates in about 17 countries in Africa, Asia and the Middle East, sold a 9.1 percent stake in Indonesian mobile firm PT XL Axiata for USD510 million, but retained a 4.2 percent holding.
The sale followed Etisalat’s exit from India, which was seen by some analysts as part of a wider drive to get rid of underperforming foreign units.
Etisalat, the top telecoms operator in the UAE and second largest in the Middle East, has 66 percent of Egypt’s Etisalat Misr, 40 percent of Etisalat Nigeria and 65 percent of Tanzania’s Zantel, in a dddition to Atlantique Telecom, which has mobile licenses in six countries, and a majority stake in Sudan fixed line operator Canar.
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