AME Info, Abu Dhabi, United Arab Emirates, telecommunications briefs [AME Info, Abu Dhabi, United Arab Emirates]
(AME Info (Abu Dhabi, United Arab Emirates) Via Acquire Media NewsEdge) Dec. 27--ASIACELL LOOKS TO RAISE $1.3BN FROM IPO: Iraqi telecoms firm Asiacell has said it is looking to raise $1.3bn through what would be the country's biggest stock offering yet, the Associated Press has reported. The company, one of Iraq's three mobile service providers, plans to offer 67.5 billion shares for at least ID22 a piece when it launches the initial public offering on January 3. Investors will have until February 2 to submit orders for the shares. The shares being offered represent a quarter of Asiacell's total share capital. Qatar's government-backed Qtel owns 53.9 percent of Asiacell, which is based in the northern Iraqi Kurdish city of Sulaimaniyah.
EGYPT TO HAVE FOURTH MOBILES OPERATOR: Egypt's telecoms regulator has announced Telecom Egypt is to be granted a license by mid-next year to provide mobile telephone services and will later let mobile companies offer fixed-lined services using Telecom Egypt infrastructure, Reuters has reported. Telecom Egypt, 80 percent owned by the state, has been relying on its data business to boost revenue. Egypt has three mobile operators: Vodafone Egypt, MobiNil, which is controlled by France Telecom, and Dubai-based Etisalat.
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