Qatar Telecom confirms bid in Syrian mobile network license
Qatar Telecom (Qtel) has confirmed that it will bid for the country’s third mobile operator license, despite the ongoing political turmoil in the country from democracy activists.
According to Qtel’s Chairman, Sheikh Abdullah bin Mohamed bin Saud al-Thani, their board has taken the decision to pursue the third license in Syria.
Syria’s forthcoming auction for the country’s third mobile network license is reportedly set to have a minimum reserve price of US$122 million.
According to reports, the country is estimated to have had just over 11 million mobile phone subscribers at the end of March 2011, which represents a population penetration level of 54%.
The two incumbent operators will have to buy out their current BOT agreements and convert to a conventional license agreement. The buyout price has been previously reported as being around US$500 million.
The company also confirmed that it would be restructuring its debt within the next few months, and might consider further capital rising at the time. The company also signed, in association with Wataniya Telecom, an agreement to acquire another 25% shareholding in Tunisia, raising its stake to 75%.
IFC invests US$3 million in Palestinian mobile network
IFC, a member of the World Bank Group, has announced that it will make an equity investment of US$3 million in the first public share offering from Wataniya Palestine, West Bank and Gaza’s second mobile phone operator.
IFC’s investment, which represents about 1% of the equity of Wataniya Palestine, will help the company increase mobile phone coverage in West Bank and Gaza, supporting economic growth and expanding business opportunities in the region. The IFC added that their investment will also help strengthen the Palestinian Exchange by attracting long term institutional investors to the market.
Accordig to Mohammad Mustafa, Wataniya Mobile Chairman, IFC’s investment is a vote of confidence in both the Palestinian economy and in Wataniya Mobile. No doubt, it will help the company in the future to reach out with confidence to additional sources of financing to secure further financing for critical projects including additional expansions to its network infrastructure and service offerings.
Wataniya Palestine is a joint venture between the Palestine Investment Fund and Wataniya Telecom, which is majority-owned by Qtel, Qatar’s leading telecommunications operator.
Wataniya Mobile to offer 15% stake in IPO (Palestine)
Qtel has announced its intention to undertake an Initial Public Offering (IPO) of 15% out of its authorized share capital to group member Wataniya Palestine Mobile Telecommunications Public Shareholding Company, the second licensed mobile telecommunications company in Palestine.
Wataniya Mobile has appointed HSBC Bank Middle East Limited as sole global coordinator and sole book-runner and Arab Bank Group as regional coordinator for the offering. Wataniya Mobile is a subsidiary of Wataniya Telecom which is 52.5% owned by Qtel. Wataniya Mobile is also part owned by the Palestine Investment Fund.
Wataniya Mobile aims to bring the latest mobile technologies and highest quality service to both individual and commercial customers in Palestine.
As per officials, the offer period is from November 7 until December 2, 2010 with 38.7 million new shares no sell down by existing shareholders at the time of the IPO fixed offer price of $1.30 per share. The IPO to be raised is $50.3 million and indicative market capitalization of $335.4 million.
Retail investors in Palestine are to subscribe at branches of HSBC, Arab Bank, Bank of Palestine, Palestine Commercial Bank, Palestine Islamic Bank, Qatar National Bank and Quds Bank. In Qatar, Qatar National Bank is a receiving bank for Qatari wholesale investors only
Qatar telecom plans increased investment in Iraq, Algeria
www.WirelessFederation.com/news: Due to potential for expansion in the Iraqi and Algerian telecoms markets, Qatar telecom is contemplating increased investments in the two countries.
According to the CEO of Qatar Telecom (Qtel), Nasser Marafih, the global financial crisis had some positive impact on Qtel’s businesses in the sense that the lowering of license fees worldwide to a ‘more realistic’ level meant it was cheaper to expand into new markets. He also feels that the lower prices will create further opportunities for Qtel’s acquisitions in the future.
36.2% of mobile operator Wataniya Telecom Algeria (Nedjma) is controlled by Qtel via 71% stake held by Kuwaiti-based Wataniya Telecom (NMTC). 14 communication companies in 17 countries are currently controlled by Qtel. However, all the plans to expand the business in the African market are abandoned by the company due to tough competition.
Cisco Systems Gulf ranked 3rd fastest growing region in the world
Cisco Systems, the worldwide leader in networking for the Internet, has announced that its Gulf operations have delivered 50 per cent growth in fiscal year 2006, establishing it as the company’s third fastest-growing region in the world.
The company also fared well in the Middle East and Africa, with the MEA region delivering 56 per cent growth in FY 2006 over the same period last year.
The announcement, which follows Cisco’s recent international reporting of Q4 and fiscal-year results for the period ended July 29, 2006, is a shot in the arm for the region’s nascent IT industry.
Samer Alkharrat, General Manager, Cisco Systems Gulf, said the company’s human capital is a primary factor in its record growth.
Alkharrat said. ‘The region is in rapid growth mode, and Cisco has responded to this growth with continuous strategic investments in the right people and the right training. This commitment, and the rewards we reap from it, is in sync with Cisco’s operating philosophy around the world.’
The investment in human resources has enabled Cisco to expand rapidly across the region, Alkharrat explained. The company recently opened a new office in Qatar, and additional offices are slated to open in Oman and Bahrain in coming months.
‘Having a talented corps of people suited to the needs of the region has allowed us to get closer to our partners and customers,’ he added. ‘We have now subdivided the Gulf region into three key territories, and appointed country managers for each.’
Cisco Systems Gulf’s investment in its human resources begins at the recruitment level. An entrenched system of continual training ensures that staff is provided with the right focus and direction, and the right tools to operate in this rapidly developing market.
FY06 also witnessed the introduction of Cisco Gulf’s TREC vertical team, an industry first specialty group dedicated to the fast-growing tourism, real estate and construction sectors.
Cisco’s globally recognised Networking Academy Program is also moving at full throttle in the region. Established to address the market’s growing need for training in networking technologies, the program offers structured courses at educational and training facilities around the region. Since its launch in 1997, the NetAcad has enlisted more than 11,000 academies and nearly two million students around the world.
The Fortune Global 500-listed company also concluded several major business deals in the region this year, including a new all-IP network vision for Kuwait-based Wataniya Telecom; an advanced IP call centre (IPCC) solutions for Petroleum Development Oman (PDO); a strategic consultancy agreement with the National Bank of Kuwait and PWC Logistics, and an infrastructure transformation contract with the Saudi Post Corporation.
Source- http://www.ameinfo.com
Technorati : Cisco Systems, Middle East, Mobile
Ice Rocket : Cisco Systems, Middle East, Mobile
