Etisalat eyes buys with US$3bn war chest

Emirates Telecommunications Corp (Etisalat) is eyeing acquisitions as it seeks to benefit from falling prices in a financial crisis, potentially using its US$3 billion in cash, a senior official said. Like other Gulf Arab telecom firms, Etisalat has been snapping up assets worth billions of dollars in populous countries such as Egypt and Pakistan. When asked about the cash position of Etisalat to finance possible acquisitions, Ahmad Julfar said: "We have over US$3 billion."

New Analysis: Mobile operators to target business users

The Middle East mobile telecoms market is becoming increasingly competitive. Established operators are facing growing competition both from established rivals and from new players. Most countries now have at least two licensed operators with new licenses continuing to be auctioned. Mobile telecoms companies are also becoming increasingly pan-regional with the resultant turf wars for one another’s customer base. The region is also now seeing the appearance of mobile virtual network operators (MVNOs) who piggy-back on existing networks to establish a new brand.

BT closes deal with Kuwaiti government

BT Frontline Pte Ltd, a leading provider of end-to-end networked IT services, has signed a major three-year deal with the Kuwaiti government. BT Frontline will provide the security infrastructure for the new Kuwait Information Network (KIN), which will enable all of Kuwait's 62 government agencies across the country to share information securely, at higher speeds and more cost-effectively. The three-year contract will be carried out in two phases. The first phase involves setting up the security infrastructure centrally and installing the platform in Kuwait's 15 government agencies. The rest of the 47 government agencies will be deployed in the second phase.

Orascom Telecom to sell subsidiary for US$180 million

Egypt-based mobile operator Orascom Telecom (OT) said it had agreed to sell its service company OrasInvest to Abu Dhabi Investment for US$180 million. Abu Dhabi Investment will pay US$90 million in cash this month and the remaining US$90 million in the form of interest-bearing promissory notes due 12 months after the completion of the transaction, it said in a statement. Abu Dhabi Investment is a sovereign wealth fund owned by the government of Abu Dhabi.