John Lee. Zain Iraq's Chief Financial Officer, Wael Ghanayem (pictured), has told Bloomberg that the company plans to list 25 percent of its shares on the Iraq Stock Exchange (ISX) by the end of June. But Geoffrey Batt, managing director of the $44 million Euphrates Iraq Fund, told the news agency: “A more realistic estimate is […]
By Karin Laub, The Associated Press. Used with permission by Iraq Business News. An Iraqi telecom company raised nearly $1.3 billion Sunday on Baghdad's small stock exchange in one of the region's biggest share offers in years — a sign of investor confidence in the fledgling private sector despite violence that still plagues the country. […]
Iraq's three main mobile phone companies - Zain Iraq, Asiacell and Korek - appear unlikely to meet a month-end deadline to list on the local stock exchange, raising the chances of them being penalised, according to Reuters. The companies are required by Iraqi law to launch initial public offerings on the Iraq Stock Exchange (ISX) by […]
Elie Girard, executive vice-president of strategy and development at France Telecom, said he was bullish about the prospects for Korek Telecom, the mobile operator based in Kurdistan, in which France Telecom recently bought a minority stake. "There is huge growth potential in Iraq," said Girard, adding that Korek would grow some 30 percent a year. […]
Iraq's communications minister said he expected the country's planned fourth mobile phone licence to fetch between $1 billion to $2 billion [2.4 trillion Iraqi dinars] in an auction expected by the end of this year. According to Reuters, Mohammed Allawi said the expected cost for the licence, including installations and infrastructure costs, could be in […]
France Telecom-Orange and its partner Agility, a leading logistics company, have announced a binding agreement on Monday with the shareholders of Korek Telecom to acquire a 44% stake in the Iraqi mobile operator. France Telecom-Orange will contribute its marketing, commercial and technical expertise to reinforce Korek Telecom's leading position in the Kurdistan region of Iraq […]
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, according to Reuters. "Exiting is possible if the company receives a suitable price level that results in good revenue," Tarek Sultan told Kuwaiti daily […]
According to the Financial Times, the European telecom giant France Telecom is engaged in talks to buy a minority stake in the Iraqi mobile phone operator Korek, as part of a bid to expand its operations in the Middle East. Although no deal has yet been struck, financial observers say that a potential agreement could […]
The Iraqi Minister of Communications has called on international companies to do business in the country's telecoms sector. Speaking at Telecoms World Middle East, Farook Abdul-Rahman revealed: "As you are all aware, we are not short of resources and finance and what we are really looking for from you is the transfer of the latest […]
