Gulf telecoms companies that spent much of the past decade making headline-grabbing overseas buys are shifting gear as the realities of competition, risk and a maturing industry catch up with them.
Mobile phone operators that emerged as the region’s most high-profile international service export have scrapped some of their grander global ambitions in exchange for a less glamorous but often more profitable strategy of boosting growth closer to home.
The businesses’ changing approach and the international commercial reverses suffered by some of them has highlighted the task facing Gulf states as they try to use petro-riches to diversify their economies.
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