By John Lee. Reuters reports that Iraq’s mobile phone companies have agreed to demands from the country's Communications and Media Commission (CMC) to pay $307 million each for radio spectrum to run 3G mobile phone networks. Current 2G services are supplied by Zain Iraq (a unit of Kuwait’s Zain), Asiacell (a subsidiary of Ooredoo) and Orange […]
By John Lee. Iraq is reportedly seeking $307 million [358 billion Iraqi dinars] from each of the country's three mobile phone operators for spectrum to run 3G (third-generation) services. According to Reuters, all three operators – Zain Iraq (owned by Kuwait's Zain), Asiacell (owned by Ooredoo) and Korek (Orange) – paid $1.25 billion each for so-called "technology-neutral" […]
By John Lee. Tarek Saadi, President of Ericsson's North Middle East Region, has said his company remains bullish on Iraq despite the threat of terrorism. Speaking on the sidelines of a trade event, he said: “Iraq is one of the more important markets for Ericsson in the Middle East ... We still believe in the […]
By Patrick M Schmidt. Despite more than a three year delay and the current security situation in Iraq, Zain has announced that they still intend to commit to their initial public offering. "Against the backdrop of security and safety issues, Zain Iraq is today mainly focused on maintaining its network and providing much needed mobile […]
By John Lee. Ahmed Alomary, a former commissioner at the Communications and Media Commission (CMC), told Reuters that Iraq plans to auction third-generation (3G) telecommunications licences for a minimum of $307 million each. Current 2G services are supplied by Zain Iraq (a unit of Kuwait's Zain), Asiacell (a subsidiary of Ooredoo) and Orange affiliate Korek, who […]
By John Lee. French-based telecommunications company Orange has said that it expects rapid customer and revenue growth in Iraq, where it took a 20 percent stake in mobile operator Korek two years ago. Marc Rennard (pictured), the company's executive vice president for Africa, the Middle East and Asia, told Reuters: "We have just reached five […]
Nokia Solutions and Networks (NSN) has announced the inauguration of its new office in Erbil, the capital city of Kurdistan region in Iraq. Until now the company has been operating at a different location in Erbil. This is NSN’s fourth modern office in Iraq, with the other offices located in Baghdad, Sulaymaniyah, and Basra to […]
Korek Telecom customers in southern Iraq will soon experience high-speed mobile broadband and better voice call services with improved coverage. For this, Korek Telecom, a leading telecom operator in Iraq, has selected Nokia Siemens Networks to deploy its advanced radio, microwave transmission and packet core network elements, using its comprehensive services. The operator has also […]
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Mobile phone company Zain Iraq announced that it will put 25% of its shares on the Iraqi stock market, less than three weeks after its rival Asiacell placed a portion of […]
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 […]
The long-awaited first IPO of an Iraqi mobile phone provider has finally come to pass, with the commencement of trading in the shares of Asiacell on the Baghdad stock exchange this week. The fundraising -- described by our Expert Blogger Mark DeWeaver as "a Nobel prize-winning IPO" -- was a major achievement, effectively doubling the […]
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. […]
