Agility yet to receive offer for Korek stake
Kuwait, December 9, 2010
Kuwaiti Logistics firm Agility has not received an official offer from France Telecom for its stake in Iraq's Korek Telecom, but welcomes any, its chairman said in published remarks on Thursday.
"Exiting is possible if the company receives a suitable price level that results in good revenue," Tarek Sultan told Kuwaiti daily newspaper Al-Watan.
France Telecom's head Stephane Richard said that its board planned to meet on Wednesday to discuss buying a minority stake in the Iraqi firm, but said no decision had been taken yet.
Reuters reported on Monday that the board of France Telecom was planning to meet on Wednesday to weigh taking a stake in Korek.
Korek, Iraq's third-largest mobile phone operator, obtained its national wireless licence in 2007 and has roughly 3 million customers.
Based in Iraq's Kurdish-run north, Korek competes with larger rivals Zain and AsiaCell, which is partly owned by Qatar Telecommunications. - Reuters
More IT & Telecommunications Stories
- Windows XP users warned on usage risks
- Tecom units welcome 181 new companies
- Ooredoo chairman joins WB gender equality council
- Mobily, Jasper start wireless M2M service
- Telecom Egypt expects mobile licence in Mar or Apr
- Sandvine wins big Etisalat follow-on order
- Aveva software for engineering plant design
- Nawras to upgrade VSat services across Oman
- Mobily, Huawei sign smart network contract
- Etisalat, Tata launch video connect service
- Talia seals new partnership with Thuraya
- 4-pillar approach for telecom operators to boost growth
- Dubai mobile emissions below global standards
- Nawras signs capacity contract with SES
- Etisalat showcases satellite solutions at Cabsat
- Batelco launches 4G LTE roaming
- Gulf Air clinches best innovation award
- Viva inks Pepsi partnership deal
- Du offers free smarphones on tablet purchase
- Batelco launches double credit promotion
- Cyber threats focus of Bahrain security talks
- Bahrain tech expo to honour innovators
- Scope ME named distributor for InfoWatch
- Nawras quadruples 3G+ mobile services
- Menatelecom expands bill paying network
- Du joins new global cable consortium
- Kuwait moves to create telecoms watchdog
- Batelco backs Royal Fund for Martyrs
- Egypt's Global Telecom posts $749m Q4 loss
- Red Hat launches open source BPM suite