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Orascom wins 1st N. Korea mobile licence

  • Egypt: Thursday, January 31 - 2008 at 09:33

The first mobile phone licence in North Korea has been awarded to Orascom, the fourth largest Arab mobile phone operator by market value, reported Reuters. The Cairo-based group said the licence was granted to its subsidiary CHEO Technology, in which the North Korean government also owns 25%. CHEO plans to invest $400m on infrastructure and licence fees over the next three years. The duration of the licence was for 25 years, with an exclusivity period of four years.

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