Telecoms
- The news you choose »
- Login to Add to Watchlist
Categories
Zain shareholders challenge proposed stake sale
Two shareholders of Zain have filed lawsuits seeking to block the sale of a 46% stake in Kuwait's biggest phone company to a group led by Indian and Malaysian investors, the lawyer for the shareholders told Bloomberg. The shareholders are requesting the court to prevent a scheduled due diligence in Zain by the Indian- Malayasian group, al-Jasem said. Kharafi Group, Zain's second-largest shareholder with about 11%, signed a preliminary accord in September to sell a 46% stake, valued at $13.7bn, in the company to India's Vavasi Group and Malaysian billionaire Syed Mokhtar Al- Bukhary.
Wataniya launches West Bank network
Wataniya Palestine has announced the launch of its mobile phone service in the West Bank with only a partial range of frequencies agreed upon with Israel for the network, Reuters has reported. The company, the second mobile operator in the West Bank, has started with 40,000 users who had registered during a promotional campaign launched a month ago. Wataniya is owned by Kuwait's National Mobile Telecommunications, a unit of Qatar Telecommunications and a holding company for Palestinian public assets.
Du's Q3 profit more than doubles
Du has announced that its third quarter profit more than doubled thanks to a 51% rise in active mobile subscribers. Net profit for the three months to September 30 rose to Dhs78.55m from Dhs31.47m in the year-earlier period, while profit before a royalty to be paid to the government jumped 398% to Dhs157.1m, the firm said in a statement.
Mobily cuts call costs new subscribers
Saudi Arabia-based Mobily has cut the cost of national and international voice calls by 50% for new subscribers. The offer is available to new subscribers only who sign up to one of the company's postpaid packages, and applies to weekday calls over a three month period.
Du offers wi-fi access during F1 at Yas Island
Du has announced it is providing wireless connectivity for spectators during Abu Dhabi's first Formula One (F1) racing event. Wi-Fi-enabled devices like a laptop or mobile phone will be able to access the internet from the F1 circuit area on Yas Island from 30 October through 1 November 2009.
Egypt confirms 16 companies bid for telecoms licence
Egypt's National Telecom Regulatory Authority has said that 16 companies have bought bid documents for Egypt's new telecom licences, Reuters has reported. Firms that have confirmed their interest include existing operators Mobinil and Vodafone, and regional operator Orascom Telecom. The two licences being offered by the government are for bundled internet, fixed-line telecoms and cable TV within residential compounds. UAE's Etisalat, the third mobile operator in Egypt, is also thought to be bidding for a licence, but has not confirmed its interest.
Mobinil seeks expansion fund
Hassan Kabbani, Chief Executive of Egypt's Mobinil, has said the company is seeking to raise at least EGP1bn ($183m) in bonds to fund expansion and acquisitions, Reuters has reported. "It's not the ceiling. I know there is an interest for much more than that," he said. Mobinil is the largest mobile telco in Egypt. It has a EGP750m payment due for its 3G and wants to buy LinkDotNet and Link Egypt from main shareholder Orascom Telecom.
Batelco profits and turnover rise
Batelco profits and turnover rise Bahrain Telecommunications (Batelco) has reported a net profit of BD79.5m ($210.9m) for the first nine months of this year, up 1.5% from the same period last year. Turnover rose 4.4% to BD256.2m and net profit grew 1.5% to BD79.5m.
Mobily takes SR900m to expand Wimax coverage
Bayanat al-Oula, a subsidiary of Saudi Arabia's second largest mobile phone operator Mobily (Etihad Etisalat), has secured a SR900m loan from Sabb bank, which it will use to expand the geographic coverage of Wimax, as the firm bets on data to drive profit growth, Reuters has reported. The 66-month loan will help expand Wimax coverage to 20 cities from the current four, the company said.
Mobily's target price raised by Riyad Capital
Saudi Arabia-based brokerage services firm, Riyad Capital, has raised its target price for Etihad Etisalat Company (Mobily) to SR55 from SR46 with a 'buy' recommendation. 'We believe Mobily will capture 44% of voice and 40% of data market share by end-2010,' the brokerage said, as it raised its total subscriber forecast to 19.4 million from 18.2 million.
Gulf telecom industry rated stable by Moody's
A new report by Moody's Investors Services says the outlook for the integrated telecommunications industry in the GCC remains stable. Companies continue to demonstrate above-average credit metrics, clear conservative financial policies and solid liquidity backed by strong cash flow generation, the rating agency said. Currently, Moody's rates three integrated telecoms service providers in the GCC region; Qatar Telecom (Qtel) at 'A1/stable'; Emirates Telecommunications Company (Etisalat) at 'Aa2/stable'; and Saudi Telecom Company (STC) at 'A1/positive'.
Potential buyer seeks price cut in Zain stake
India's state-run telecom firm, Bharat Sanchar Nigam Ltd (BSNL) has said it will not pay more than $10bn for the 46% stake it is eyeing in Kuwait's Zain Telecom, well below the $13.7bn tag that the Kharafi family has attached to it, India's Business Standard has reported. The Kharafi family, which is selling its holding in Zain, is asking for 2 Kuwati Dinars per share. BSNL executives say this is too high and they will soon convey this to the Vavasi Group.
Batelco lowers calling card rates
Bahrain Telecommunication (BATELCO) has announced special reduced rates on '123Call Calling Cards' to the Gulf. The reduced rate to Kuwait, Oman, Qatar, Saudi Arabia, and UAE is only 85 fils per minute throughout the day, a company official said.
Etisalat to sell iPhone 3GS from Oct 27
Emirates Telecommunications Corporation (Etisalat) has announced October 27 as the launch date for the iPhone 3GS across the UAE. The new iPhone 3GS features a video camera, email, voice control and GPS maps.
Wataniya posts Q3 results
Wataniya has announced its Q3 results saying that total revenue fell by 5% YoY, reaching KD119m. Revenue from the Kuwaiti operation dropped by 16%, and contributed to 41% of total revenue compared to 46% in Q3 2008. At the end of September 2009, total active subscribers reached 12.5 million, a growth of 17% compared to the same period last year. Both the Algerian and Tunisian operations were the main contributors to total subscribers; 47.5% and 38% respectively.
It looks like you are using a Mac - check out our 
Web Feeds