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Etisalat Plans New Investments

Middle East : 19 February 2010

Mohammad Hassan Omran, company chairman of telecom giant Etisalat announced that his group is well poised operationally and financially to capitalize on licenses and acquisitions opportunities in the Middle East and North Africa. Etisalat is planning to invest on long term basis to serve investors and customers instead of acquiring licenses and then selling after a few years.

Last year the company acquired Sri Lanka’s Millicom International Cellular for $207 million and currently it is trying to get approval for raising its stake in Indian subsidiary Etisalat DB and complete takeover of Atlantique Telecom.

The company is seeking licenses in Libya, Lebanon and Syria try and is interested in acquiring a company in Iraq.

As the company advances to 4G and higher data transfer speeds, in an attempt to capitalize on broadband opportunities, the company has begun the commercial trial of LTE (long-term evolution) from its current HSDA plus platform.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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