­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.

Palestine’s Wataniya Mobile has announced its plans to sell 15% of its share via an IPO, raising US$50.3 million in the process.

According to the company, the offer period for shares will take place between 7 November and 2 December, and will be followed by a listing on the Palestine stock exchange.

Wataniya is Palestine’s second mobile operator, having launched services in competition with Jawwal, part of incumbent operator Paltel, in November 2009. As of the end of September, the company had 302,404 subscribers, up from 110,835 at the start of the year, which it claims equates to a market share of 19% in the West Bank.

As per the company, the telco is licensed to provide mobile services in both the West Bank and Gaza, and it plans to expand its network to the latter as soon as is practicable. To date, the political situation in the region has made such a move impossible.

According to Bassam Hannoun, CEO of Wataniya Mobile, the company feels they have a very exciting time ahead, and look forward to welcoming new investors to join them as they continue to grow their community of customers in Palestine.

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Wataniya finally launches in West Bank.

Wataniya Mobile finally began operations after months of disputes with Israel. This will break Paltels monopoly and is likely to drive down prices.
Qtel owns 57% of Wataniya Palestine and the remainder is owned by  the public Palestine Investment Fund. Wataniya has invested USD 100 Million already and a further $700m is planned over the next decade.
Current penetration in the west bank is only 35% which Wireless Federation expects to go up rapidly following the launch of Wataniya. Paltel currently has 1.5 million Palestinian subscribers.
Wataniya said it has received only 3.8MHz of bandwidth from Israel, instead of the 4.8MHz that had been promised. Without this Wataniya will not be able to launch 3G services.

Wataniya Mobile finally began operations after months of disputes with Israel. This will break Paltels monopoly and is likely to drive down prices.

Qtel owns 57% of Wataniya Palestine and the remainder is owned by  the public Palestine Investment Fund. Wataniya has invested USD 100 Million already and a further $700m is planned over the next decade.

Current penetration in the west bank is only 35% which Wireless Federation expects to go up rapidly following the launch of Wataniya. Paltel currently has 1.5 million Palestinian subscribers.

Wataniya said it has received only 3.8MHz of bandwidth from Israel, instead of the 4.8MHz that had been promised. Without this Wataniya will not be able to launch 3G services.

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Hello?

It seems like cellphones are everywhere today and can do nearly anything. They are MP3 players, video cameras, even Internet portals. In some of the networks in Asia, they are even used as credit cards and mobile banking devices. Which economy has the highest level of cellular phone subscribers in the world?

A. Hong Kong B. Bahrain C. Canada D. Italy

A. Hong Kong is correct.

Hong Kong has about 1,184 cellular phone subscriptions per 1,000 people, an average of nearly 1.2 phones per person, as of 2004. This makes it one of seven economies in the world that average more than one phone per person, according to the World Bank’s World Development Indicators.

The next highest rate in Asia is Singapore, which ranks 19th worldwide and has a subscription rate of about 910 subscribers per 1,000 people. Hong Kong’s subscription rate is more than 50 percent higher than Japan’s (715.96) and South Korea’s (760.91).

B. Bahrain is not correct.

Bahrain has the highest rate of cell phone subscribers among Muslim countries with a rate of about 907 subscribers per 1,000 people, ranking it 21st worldwide. The United Arab Emirates and Kuwait rank 28th and 32 d respectively. All three rank higher than the United States, as does Qatar, which ranks 48th.

Indonesia, the most populous Muslim country, has only about 138 subscribers per 1,000 people; meanwhile Egypt, the most populous Arab country, has only 101 subscribers per 1,000 people. This is only half the rate of the West Bank, which ranks 92 d worldwide with a rate of about 277 subscribers per 1,000 people.

C. Canada is not correct

Canada ranks 66th in the world with about 469 cellular subscribers per 1,000 people. Similarly, the United States, with almost 617 subscribers per 1,000 people ranks, only 49th in the world.

These subscription rates put the United States and Canada behind most of Europe and the Asian tiger economies. Mexico, ranking 74th worldwide, is just behind Saudi Arabia (73 d) in cellphone penetration rates.

D. Italy is not correct.

Italy actually ranks third worldwide in rate of cell phone subscriptions and has the highest rate among Western European countries.

The United Kingdom ranks seventh, while Germany ranks 25th, and France places 42nd worldwide.

Among the newcomers to the European Union, Estonia and Slovenia rank among the top 20 in the world, and have about 940 subscribers per 1,000 people. The Russian Federation ranks 59th with about 517 subscribers per 1,000 people.

Source- http://www.boston.com

 

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