Etisalat exceeds 100 million subscribers
Barcelona, February 15, 2010
Etisalat, a leading telecom services provider in the UAE, said that its subscriber base has exceeded 100 million subscribers across its 18 markets in the Middle East, Asia and Africa covering two billion people.
This comes shortly after Etisalat announced it has acquired an additional share equal to 18 per cent in Atlantic Telecom, thus increasing the shareholding to 100 per cent.
Added to that is its application to the Indian Foreign Investment Promotion Board (FIPB), to obtain approval to raise its 45 per cent stake in its Indian subsidiary Etisalat DB to 50 per cent plus one share.
Etisalat targets majority stakes in its subsidiaries and associates for more operational and financial synergy.
Recently Etisalat reported annual net revenues of Dh30.831billion ($8.39 billion) and net profits of Dh8.836 billion ($2.40 billion) marking a 5 per cent and 16 per cent increase respectively, compared to 2008.
Mohammed Omran, chairman of Etisalat is currently leading a senior delegation participating in Mobile World Congress 2010, which is taking place this week in Barcelona.
Etisalat’s delegation will hold a series of meetings with CEOs and experts from telecom and technology companies to discuss the latest innovations.
Etisalat has a stand through which it will host its guests and showcase its historical milestones and the latest information on its technology and services.
Etisalat has operations and investments in 18 countries in the Middle East, Asia and Africa including UAE, Saudi Arabia, Egypt, Sudan, Pakistan, Tanzania, Benin, Burkina Faso, Gabon, Niger, Togo, Republic of Central Africa, Ivory Coast, Nigeria, Afghanistan, India, Indonesia and Sri Lanka. – TradeArabia News Service