Zain’s profit rises on sale of African Holdings (Kuwait)

Editor Mobile

Zain, Kuwait’s biggest phone operator has posted a fivefold rise in full-year profit on gains after the company sold most of its African operations and added customers. It raised its dividend. The company’s net income grew to US$3.8 billion compared to US$702.2 million in the previous year. According to Zain, profit included a US$2.77 billion capital gain from the sale …

EditorZain’s profit rises on sale of African Holdings (Kuwait)

France Telecom to sell Moroccan bond

Editor Mobile

France Telecom, which owns 40 percent of Morocco’s private wireless operator Medi Telecom (Meditel) will sell a 7-year bond to raise US$145.78 million. According to the company’s statement, the bond aims to mainly help Meditel boost its network coverage as part of a US$570.98 million investment plan over the 2010-2014 period and reimburse loans from shareholders. According to company officials …

EditorFrance Telecom to sell Moroccan bond

FT to continue with Korek stake purchase (Iraq)

Editor Mobile

A report by Middle East business intelligence service MEED has revealed that France Telecom (FT) is proceeding with the purchase of a stake in Iraqi cellco Korek Telecom, after it was chosen as a preferred bidder over South Africa’s MTN. According to reports, the GSM operator, based in the autonomous Iraqi Kurdistan region, won a nationwide licence in 2007 and …

EditorFT to continue with Korek stake purchase (Iraq)

Maroc Telecom Q3 consolidated earnings rise by 6.6%

Editor Mobile

Maroc Telecom, Morocco’s largest telecommunications company has reported its Q3 results. The company’s consolidated earnings increased by 6.6% to US$740 million, compared to last year. According to the company, the national operator revenues amounted to US$994.71 millions in the 3rd quarter, posting a 5.2% rise compared to the previous, reflecting the positive trend of the operations during the year. According …

EditorMaroc Telecom Q3 consolidated earnings rise by 6.6%

African mobile users surpass 500 million in Q3

Editor Mobile

As per the reports by Informa Telecoms & Media Mobile, subscriptions in Africa surpassed half a billion during the third quarter of 2010 a figure expected to rise to 842 million in the next five years. According to the research firm, the number of active mobile subscriptions reached 506 million by the end of September, up 18% on last year, …

EditorAfrican mobile users surpass 500 million in Q3