RIYADH, Jan 25 – Emirates Telecommunications Corp (Etisalat) expects to invest up to $5 billion over five years in its Iran operations after winning the country's third mobile phone licence, its chairman said on Sunday.
"We will invest $4bn to $5bn in the Iranian operation in five years," Mohammed Hassan Omran said at an economic conference in Saudi Arabia.
He said Etisalat, the second-largest Arab telecommunications company by market value, would spend $1bn in the first year on its network in Iran.
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