#UAE's e& looks to expand in telecoms and other areas, including via M&A | Reuters

UAE's e& looks to expand in telecoms and other areas, including via M&A | Reuters

E& (ETISALAT.AD), the UAE telecoms group formerly called Etisalat, is looking to expand into new markets in Africa, Europe and Asia and in areas outside telecoms such as financial technology as its seeks to drive growth, its CEO told Reuters.

The company is exploring a range of possibilities, including potential joint ventures, acquisitions and listings of subsidiaries, though it would want to retain control of all its units, Group CEO Hatem Dowidar said in an interview.

"While telco is a good business, and we're still focusing on telco - as for us it is the money-generating cash cow - the long-term growth needs to be through expansion," Dowidar said.

"In the telco space, we are looking at geographic expansion," he said, exploring markets in Africa, Europe and Asia with room for growth, political stability and strong regulations. He did not name any specific target markets.