The latest Asiacell Iraq News – Zairn, Korek, mobile, telecoms, HP, Sulaymaniyah & more – brought to you by Iraq Business News
By John Lee. The Iraq Stock Exchange says that Iraqi telecom operator Asiacell will start publicly trading its shares as of 3rd February. Associated Press also report that it will be the first stock float since the reign of Saddam Hussein. An Initial Public Offering (IPO) of 25 percent of the company's shares will take […]
By John Lee. According to a report from Bloomberg, Morgan Stanley is no longer a bookrunner for the IPO (initial public offering) of Asiacell, the Iraqi telecom operator majority-owned by Qatar Telecom (QTEL). A person with knowledge of the discussions told the news agency that, while Morgan Stanley is still an adviser on the deal, […]
Iraq's three main mobile phone companies -- Zain, Asiacell and Korek -- have appealed against a communications regulator decision to fine them for failing to list on the local stock exchange, reports Reuters. Iraq's Communications and Media Commission (CMC) fined the companies for missing the August 2011 deadline to list on the local bourse, which […]
By John Lee. Asiacell has become the first mobile operator to reach an initial agreement to list on the Iraqi bourse, according to a report from Reuters. The company, part of Qatar Telecommunications, along with its two rivals Zain Iraq and Korek, were required to float their shares on the stock market as a condition […]
By John Lee. Following its recent fine on mobile phone operators Asiacell and Korek, Iraq's communications regulator is to fine Zain Iraq $12,864 a day since September of last year for failing to list on the country's stock exchange, according to Reuters. The three companies are required to list on the local stock exchange as […]
Iraq's communications regulator has decided to fine mobile phone operator Asiacell $8,500 per day since September 1, 2011 for failing to list on the local stock exchange, according to a report from Reuters. Ahmed Alomary, commissioner of Iraq's Communications and Media Commission (CMC), also told the agency that the regulator had also decided to fine […]
Iraq's biggest mobile phone operator, Zain Iraq, has invested about $20 million in its efforts to list on the local stock exchange, according to a report from Reuters. Chief executive Emad Makiya told the agency: "We have invested a lot of money. We have invested over $20 million in this. We have hired lawyers, we […]
Reuters reports that Qatar Telecom (Qtel) is to double its stake in Asiacell, Iraq's second biggest mobile operator, to 60 percent for $1.47 billion. Qtel will initially increase its stake to 53.9 percent from 30 percent, with a further increase pending Iraqi government and regulatory approval. Qtel did not identify the sellers of the stake, but […]
Korek Telecom hopes to launch a third-generation (3G) network later this year, but is waiting for the Iraqi government to allocate the necessary spectrum, the operator's chief executive said on Wednesday, according to Reuters. The company, in which France Telecom and Kuwait's Agility own stakes, claims a 70 percent market share in Kurdistan. Yet its […]
Reuters, citing banking sources familiar with the matter, reports that Qatar Telecom (Qtel) plans to buy out a private equity partner's 19-percent stake in Iraqi telecoms operator Asiacell. Qtel, the Gulf state's former monopoly, has a 30-percent stake in Asiacell, Iraq's number two operator, while its partner MerchantBridge owns 19 percent. Morgan Stanley is reportedly […]
PRweek reports that the Iraqi unit of Kuwaiti telecoms company Zain has hired PR agency support in advance of its listing on the Iraq Stock Exchange. The firm has been planning an initial public offering (IPO) in Iraq since the summer and has asked London-based M:Communications to support communications relating to the listing process. M: […]
Diabetics in Kuwait, Iraq and Palestine can now use their mobile phones to receive personalized alerts and information on exercise and diet, thanks to a new mHealth service being offered by Qtel Group companies there. Qtel Group will soon be offering this service in other countries where it is present. Representatives from the Qtel Group […]
