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FINANCIAL NEWS
UAE’s Etislalat considers new licenses, partnerships
05 Oct 2011
(MENAFN) Emirates Telecommunications Corp’s (Etisalat) Senior Vice-President for corporate communications, Ahmed bin Ali, said that since the company planned to expand its business into several markets, Etisalat considered new partnerships or gaining new licenses, reported Emirates 24/7.
Bin Ali added that Etisalat had sufficient reserve cash to acquire another operator if the opportunity would meet Etisalat’s investment strategy, however, partnerships would be an ideal way to enter markets like Asia and Africa since the UAE lacked consolidation opportunities.
He also said that in spite of a constant need for consolidations within the industry, available mergers and acquisition opportunities in the UAE were falling, on the other hand, last year, mobile penetration was 145 percent compared with 154 percent in 2009.
It is worth noting that Etisalat operates in 18 countries and around three quarters of its revenues in 2011’s first six months came from the UAE.
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