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FINANCIAL NEWS
Zain Iraq seeks to add 2m users in 2011
23 Aug 2010
(MENAFN) The Chief Executive Officer at Zain Iraq said that the telecoms firm Zain will start operating in Iraqi Kurdistan in January and expects to boost its subscriber base by up to two million in 2011, Reuters reported.
He pointed out that Zain group, the Gulf region’s third-largest telecoms firm by value, would continue to invest in Iraq, a key high-growth market, and expected revenue for 2011 to be up at least 15-20 percent.
Zain is the biggest operator in the country and has invested $4.5 billion in its network after securing a 15-year license for $1.25 billion in 2007. It has around 54 percent of the market share and competes with AsiaCell and Korek, which is based in Iraq’s Kurdish-run north.
The Iraqi government, which last July approved a plan for a fourth mobile phone operator in the virgin market, has strongly criticized Zain and its rivals for their patchy coverage, and imposed fines.
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