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FINANCIAL NEWS
Up to 4 controlling operators by 2015: STC CEO
24 Apr 2011
(MENAFN) Chief executive of Saudi Telecom Company (STC) International, Ghassan Hasbani, said that he expects for the telecommunications industry in the Middle East to be controlled by a maximum of four groups over the course of the coming four years, reported The National.
Hasbani said that smaller operators would be consolidation within larger ones, thus leaving only a very few number of telecommunication service providers in the market. So far, such acquisitions left bigger groups with over 60 percent of the regional subscriber base.
In addition, the phenomenon of a country’s telecommunication sector being controlled by a single operator would end. All large groups are eyeing a share in every market possible, according to the CEO.
The CEO added that private-equity groups holding these telecoms operators are exiting markets by a complete exit or consolidation of ownership.
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