Etisalat seeks 1 billion dollar investment and 1 million subscribers

The consortium, which won the Third Operator tender with Etisalat, has paid 300 million Euros – 402.1m dollars- to the Iranian government, the report says.
The operator also seeks to acquire ownership of an Iraqi mobile phone operator.
It has announced that it intends to invest one billion dollars in new telecommunication infrastructures in Iran and will start it activity in the country in the coming nine months.
“Etisalat hopes to draw at least one million subscribers in its first year of activity,” the operator’s international investment director Jamal Al-Jervan announced.
He believed that the mobile phone penetration rate in Iran was 60 percent and the country was a growing market.
Elisalat is currently operating in 18 countries and seeks to expand its operation to other countries.

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