A consortium led by the United Arab Emirates’ state-controlled telecommunications company said it had won a bid for Iran’s third mobile licence on Tuesday, making inroads into a potentially lucrative market.
Etisalat, which is more than 60 per cent owned by the UAE’s federal government, said its consortium beat operators including Zain, Omantel, Telekom Malaysia and Bharti Airtel with a €300m ($396m) bid for the Iranian licence.
Middle East telecoms companies – primarily in the Gulf – have expanded rapidly in recent years, making more than $43bn of licence purchases and acquisitions since 2006, according to figures by Dealogic, a data provider.
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