The company offered JD 251million (Two hundred fifty one million Jordanian Dinars) as an upfront license payment to install and operate a 2G/3G mobile telecommunications system and establish the second Palestinian mobile telecommunications service in Palestine.

Wataniya International will now begin negotiations to finalize the license terms and agree on the frequencies required to operate the network. Wataniya International will establish a new company in Palestine which will be 40% owned by Wataniya International where, as per the Request for Application, 30% will be offered to the Palestine Investment Fund (PIF) and 30% owned by the general population through an IPO.

‘We are grateful for the confidence of the Palestinian National Authority in proceeding with this privatization process. Wataniya has a proven track record at the Greenfield level, building and operating world class networks and delivering innovative services in discerning markets,’ said Mr. Faisal Al-Ayyar, Chairman of Wataniya International.

The license will authorize the building and operating of a GSM telecommunications
network and provide public mobile voice and data telecommunications services in
Palestine. It will also give the right to establish and operate a third generation (3G)
network and to provide international telecommunication services.

‘Wataniya is growing rapidly based on continued success in existing operations and our expansion into new, high growth markets. The company’s entry into Palestine represents a key step in continuing to reach our ambitious growth targets,’ said Ahmad Haleem, CEO of Wataniya International.

Source- http://www.ameinfo.com

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