AME Info, Abu Dhabi, United Arab Emirates, telecommunications briefs
Feb 05, 2013 (AME Info - McClatchy-Tribune Information Services via COMTEX) --
TELECOM EGYPT SET TO LAUNCH MOBILE SERVICES: Telecom Egypt has announced it will be ready to offer mobile services six weeks after it receives the network licence, Mena has reported. The license is pending the government's approval of the different tariff plans that are currently being offered by the state-owned telecoms operator. Egypt has three mobile operators: Vodafone Egypt, MobiNil, which is controlled by France Telecom, and Dubai-based Etisalat.
ZAIN SAUDI SECURES EXTENSION OF LOAN MATURITY: Zain Saudi has agreed with its lenders to an extension of the maturity date of its syndicated murabaha facility until February 27, 2013, Saudi Gazette has reported. The affiliate of Kuwait's Zain said the new facility could also be extended further. Zain KSA's murabaha facility amounts around SR9bn ($2.4bn) after the successful prepayment of SR750m ($200m) on August 27, 2012.
MOBINIL TO LIST MORE SHARE TO MEET OWNERSHIP RULES: Egyptian mobile phone operator MobiNil has said it would prefer to list more shares on Cairo's stock exchange to meet new ownership rules, than sell a bigger stake to a local company, Reuters has reported. "We seek to raise our shares in Egypt to 15 percent and we have three steps to do that, another strategic partner, go to the stock market, or do both," said MobiNil CEO, Yves Gauthier. "The most favourable option is to go to the stock market." Asked when the company would do that, he said: "This depends on the economic situation in the country which is not very good ... or stable now." The new rules were passed in 2012.
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