The Association of Licensed Telecommunications Operators of Nigeria (ALTON) is an Incorporated Trustees formed in the year 2000. It is the industry body for all telecommunications companies and those providing subsidiary services to telecommunications service providers in Nigeria. Its objective is to promoting growth in the telecommunications sector and, ultimately, ehnance efficient and affordable telecommunications services delivery to users of these services. Membership of ALTON consists of companies duly licensed in Nigeria to provide telecommunications and related services. These services include telephony services (fixed and mobile), internet and other data services, as well as of infrastructure and other support services/value adding services. Read more..

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Telstra mulls Asian mobile operator buy
Australian telco works on expanding its business in Asia; may replicate Telkom Indonesia deal elsewhere in the region.
Amazon takes $170m charge on Fire phones
U.S. e-commerce giant's third quarter net loss widens to $437 million.
Ericsson's Q3 revenue growth tempered by US slowdown
Kit maker's gross margin widens on higher hardware margins, growth in intellectual property revenues.
Germany shares plans for Q2 2015 spectrum auction
State to sell off frequencies in various bands, including 700-MHz second digital dividend, in bid to boost mobile broadband, competition.
America Movil Q3 revenue rises 4% on mobile, TV growth
Operating profit falls 5.5% due to higher depreciation, amortisation charges.
US telcos doing the dollar dance
The revenue gap between AT&T and Verizon is shrinking, but will the real competition come from America Movil?
US telcos doing the dollar dance
The revenue gap between AT&T and Verizon is shrinking, but will the real competition come from America Movil?
US telcos doing the dollar dance
The revenue gap between AT&T and Verizon is shrinking, but will the real competition come from America Movil?
US telcos doing the dollar dance
The revenue gap between AT&T and Verizon is shrinking, but will the real competition come from America Movil?

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AllAfrica News: ICT and Telecom
All Africa, All the Time.

Zimbabwe: Hunting for Love . . . Internet Still Safe Hunting Ground in Zimbabwe
[The Herald]Finding the right partner seems to be a challenge for most animals. Male peacocks have elaborate costumes and some male apes have colourful behinds while bulls of most species settle the fight to procreate through their own versions of pugilistic contests.
Kenya: Kenya's Digital Registry System to Go Live in June 2016
[CIO]The National Digital Registry System (NDRS) is set to go live by June 2016. Once launched the system will help facilitate the sharing of data among institutions.
Africa: Mobile Malware Target Android Devices, Java Key Target for Online Cri...
[CIO]About 99 per cent of mobile malware in 2013 targeted Android devices while Java continues to be the most frequently exploited programming language targeted by online criminals according to Cisco's 2014 Annual Security Report.
Liberia: LRA Receives ICT Boost
[New Dawn]The Liberia Revenue Authority (LRA) has received several ICT equipment and accessories from the UNDP in Liberia. The equipment includes 50 computer desktops, 25 laptops, 50 UPS, 20 switches and 6 heavy duty printers among others.
Angola: State Secretary Assesses Digital Library Works in Bie
[ANGOP]Kuito -The Secretary of State for Information and Technology, Pedro Sebasti„o Teta, Thursday evaluated the implementation of digital library works in the central Biť province.
Africa: Technology Helps Africa's Women Farmers Close the Gap
[Thomson Reuters Foundation]Nairobi -Women farmers are the backbone of food production in much of Africa, but have long suffered from limited access to information and advice. In the continent's east, new technologies and conventional media are now being used to help fill that gap.
Zimbabwe: Girls Embrace Technology for Change
[RNW Africa]The digital age is dawning for young Zimbabwean girls and women as they develop new forms of technology that will improve their lives and communities.
West Africa: Samsung Donates 3,000 Smartphones to UN to Support Fight Against...
[CIO]Samsung has announced that the company - through its global headquarters in Seoul, Korea - will donate 3,000 smartphones, worth about US $ 1 million, to support the ongoing fight against Ebola.
Africa: Safaricom Launches Third Annual Sustainability Report
[CIO]Safaricom has launched its third sustainability report.
Kenya: Map Confusion Compounds Location of Konza ICT City
[Capital FM]Nairobi -Controversy over the location of Konza Techno City rages as some government agencies contradicted each other when they appeared before a Senate committee.
Africa: Mobile Internet in Africa Brings Fundamentally Change
[Biz-Community]While the mobile internet has brought only incremental improvements in developed markets, it is fundamentally changing lives in Africa allowing access to basic services.
East Africa: Online EAC Regional Statistics Database on Food and Agriculture ...
[EAC]Arusha -An Online Regional Statistics Database (RegionSTAT EAC Database) was today launched in Nairobi, by Kenya's Principal Secretary East African Affairs, Commerce and Industry, during the meeting of the EAC Sectoral Committee on Statistics.
Kenya: Wiko Smartphone Delivers On Style, Functionality
[The Star]French company Wiko recently launched an array of phones in Kenya in a bid to get a slice of the smartphone market in the country which keeps growing by the day.
Nigeria: Customers Hype LG Showroom
[Vanguard]GONE are the days when you had to travel far and wide to get the right electronics. Now, good electronic shops are right there in your neighbourhood. Not far from the popular Alade Market, LG Showroom located at Oshoppey Plaza, Allen Avenue in Ikeja is one of the main LG Brand Stores in Lagos that serves as an all-purpose neighbourhood electronics store. Laid out simply in a wide rectangle, the showroom has shelves overflowing with home appliances of various sizes: microwave ovens and vacuum cleaners.
Nigeria: 10 New Mobile Phones, As Wiko Debuts in Nigeria
[Vanguard]THERE might be one way to enter into the Nigerian market, but nothing makes a statement like coming in with ten new mobile phones. So it's no wonder that when French mobile phone maker, Wiko entered the Nigerian phone market officially recently, offering 10 models from its extensive range of smart phones and feature phones, it took the market by storm.

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TeleGeography CommsUpdate
Daily news on every market in the global telecommunications industry.

Cable compendium: a guide to the week?s submarine and terrestrial developments
A consortium of international telecoms operators, including *Chunghwa Telecom* of Taiwan, *KT Corporation* of South Korea, an as-yet unnamed US company, and ?the major carriers from China? has come together in Busan, South Korea to sign the Construction and Maintenance Agreement and the Supply Contract for the planned *New Cross Pacific (NCP)* submarine cable system. The cable will directly connect China, Japan, South Korea, Taiwan and the United States, and have a design capacity of 80Tbps. Construction on the 14,000km cable is expected to begin next month, and is scheduled to be completed in the 2nd half of 2017.*Speaking to reporters during the 16th edition of Futurecom, Francisco Ziober Filho, the president of *Telebras*, noted that plans to connect Fortaleza (Brazil) with Lisbon (Portugal) via a submarine cable are making progress, and the company expects the link to go live in the second half of 2016. Previously, in September 2012 Telebras and Spanish company *IslaLink* signed a memorandum of understanding (MoU) to build a transatlantic cable link between Europe and South America. Filho added that the duo are in the process of incorporating a new joint venture (JV) company to manage the deployment. The JV is expected to be owned by Telebras (35%), IslaLink (45%) and an unidentified third partner (20%).*Italian infrastructure provider *Retelit* has revealed that it will invest a total of EUR70 million (USD88.5 million) in the *Asia-Africa-Europe 1 (AAE-1)* submarine cable system. According to Retelit's estimates the project should generate revenues of EUR145 million in its first ten years of operation. The company will invest an initial EUR58 million, followed by a further EUR12 million depending on the development of the business. As previously reported by TeleGeography?s Cable Compendium, Retelit joined the international consortium behind the 25,000k cable in September this year, and will construct a landing station in Bari, on the Adriatic coast. The AAE-1 system will connect Hong Kong, Djibouti, UAE, Singapore, Vietnam, Malaysia, Thailand, India, Pakistan, Oman, Qatar, Yemen, Saudi Arabia, Egypt, Greece, Italy and France using 100Gbps technology.*Angolan banks have approved a USD260 million bank guarantee for the *Angola Cables* consortium, earmarked for building the *South Atlantic Cable System (SACS)* undersea fibre-optic cable connecting the African country to Brazil, plus involvement in a joint project to roll out onward connectivity between Brazil and the US (the *?Americas Cable?* in partnership with Google and others). In unrelated news, *TeliaSonera International Carrier (TSIC)* and Angola Cables have signed an IP Transit agreement to enhance regional connectivity to TSIC?s customer base along the West African coast using Angola Cables? submarine cable assets.*Botswana?s state-owned infrastructure company, *Botswana Fibre Networks (BoFiNeT)*, has awarded contracts for the construction of three new fibre-optic backbone links covering around 1,000km in total, as well as two metropolitan rings. The contracts are estimated to be costing around BWP200 million (USD21.6 million) and were awarded as follows: the 360km Sekoma-Tsabong link will be deployed by *Dimension Data*; the 325km Sehithwa-Mohembo project was handed to *Complant Botswana* and *Mepi Building Construction*; the 362km Maun-Ngoma optical fibre project is being carried out by *Four Arrows* and *Echoes Holdings*; the Maun metro ring will be deployed by *MMP Construction* and *Nowaji Services*; and the Kasane-Kazungula metro fibre project will be carried out by *Business Online*.*European fibre-optic network services provider *euNetworks Group* has expanded its footprint into Switzerland with the acquisition of Vevey-based *Fibre Lac*. Fibre Lac operates approximately 360km of dark fibre in the country, connecting a total of eleven cities, including Geneva, Zurich, Lausanne, Bern, and Basel. The terms of the deal were not disclosed.**O2 UK* has announced its intention to deploy a full fibre core network throughout the country, touching on 19 connectivity points from Glasgow, Scotland to Salisbury in the South West. As part of the process, O2 has signed a 15-year agreement with bandwidth infrastructure provider *Zayo Group* to manage the transition from its traditional SDH and Ethernet-based managed services infrastructure to a dedicated fibre-optic network.*We welcome your feedback about the Cable Compendium. If you have any questions, topic suggestions, or corrections, please email **
MTN Group reports 219m subscribers at end-September; data revenue now account...
MTN Group chief executive officer Sifiso Dabengwa says his company closed out September 2014 with a consolidated mobile user base of 219.2 million, up 2% quarter-on-quarter, while revenue derived from data services climbed 34% between September 2013 and September 2014, to now account for 17.9% of total revenue. MTN says its strong data growth has been helped by the popularity of its Mobile Money service which now has 22.2 million subscribers. Further, Dabengwa also noted a return to form in its South African business, with the operator regaining traction in the three months under review, with 1.4 million net additions for a total of 26.7 million. MTN said the growth was mainly attributable to competitive offers such as ?rush hour? and ?talk free' in the pre-paid segment. As a result of these offers, pay-as-you-go users increased by 7.1% to 21,2 million, with the Group also noting encouraging growth in minutes of use during the quarter. The post-paid segment delivered a ?satisfactory performance? and grew its subscribers marginally to 5.5 million.*However, in its single largest mobile market, Nigeria, MTN said its local unit reported a marginal 0.1% fall in the user base, but still has more than 58.4 million connections. MTN Group said that the decline in Nigeria was ?largely impacted by regulatory restrictions relating to the dominant operator ruling and continued unrest in the northern region during the quarter. While this muted subscriber performance is expected to impact revenue growth for the second half of the year, by mid-September the operation had resolved a number of issues with the regulator resulting in an improvement in subscriber growth,? it said.*JSE-listed MTN also revealed that its Large Opco cluster of countries (i.e. Iran, Ghana, Cameroon, Cote d?Ivoire, Sudan, Syria and Uganda) had a total of 100.358 million users at end-September, up 1.9% q-o-q, while the Small Opco cluster (Yemen, Afghanistan, Benin, Republic of Congo, Zambia, Guinea, Rwanda, Cyprus, Liberia, Botswana, Guinea-Bissau, South Sudan and Swaziland) had a total of 33.770 million (+3.2%).
Vodafone Italy extends LTE network to 2,400 municipalities
Vodafone Italy has announced that its 4G Long Term Evolution (LTE) network now covers 2,400 municipalities nationwide, equivalent to around 72% of the Italian population. Of the total, around 400 locations are said to be key tourist destinations. As previously reported by TeleGeography?s CommsUpdate, in June this year Vodafone announced that it would start deploying LTE technology in 100 new municipalities every month, with immediate effect, enabling it to cover 90% of the population by 2016.
Unicom revenues tumble as subscriber growth slows
Chinese GSM and W-CDMA network operator China Unicom has registered a 26.1% year-on-year increase in net profits for the first three quarters of 2014 as savings from changes to its marketing and handset subsidy policies offset a decline in total turnover. Unicom booked revenues of CNY215.34 billion (USD35.06 billion) for the nine-month period ? down 2.2% from CNY220.17 billion a year earlier ? CNY119.10 billion of which was from mobile services, whilst the fixed broadband business contributed CNY66.99 billion. Cuts to the operator?s marketing efforts saw selling expenses drop 0.3% y-o-y to CNY31.79 billion, whilst the terminal subsidy was cut by 32.7% to CNY3.91 billion. Meanwhile, Unicom lowered the costs of telecommunications products sold by nearly CNY16 billion to CNY32.25 billion from CNY48.18 billion in 9M 2013. *Elsewhere the provider?s turnover was impacted by a slowdown in subscriber growth, the operator registering net additions of 2.067 million mobile subscribers in Q3 2014, compared to 10.595 million in the corresponding period of 2013. Similarly, in the fixed broadband segment, Unicom added roughly two million net new subscribers in 9M 2014, compared to more than three million in 2013.
Taiwanese 4G subscribers reach 1.7 million
Taiwanese operators have signed up a total of 1.7 million 4G subscribers since services were first launched in the country back in May 2014. According to the Digitimes, which cites figures produced by the National Communications Commission (NCC), the nation?s mobile network operators have applied so far to set up some 12,300 LTE-enabled base stations, and with the regulator having approved the plans for 10,300 of those, around 4,920 are already in operation. As previously reported by CommsUpdate, Chunghwa Telecom was the first to market, inaugurating its 4G network in May 2014, while Far EasTone and Taiwan Mobile Company launched competing commercial services just a few days later in early June 2014.
Rogers? revenue inches up 1%, although cable declines 1%
Canadian quadruple-play operator Rogers Communications? consolidated revenue increased 1% in the third quarter of 2014 to CAD3.252 billion (USD2.896 billion), reflecting revenue growth of 2% year-on-year in mobile operations and 3% in Business Solutions, while revenue in the group?s Media division was steady, and was partially offset by a decline of 1% in cable operations (TV, broadband and fixed telephony). Mobile revenue was boosted by higher equipment sales and moderate growth in service revenue, but cable revenue decreased as a result of TV subscriber losses over the past year, partially offset by continued internet revenue growth and the impact of pricing changes. Supporting its ongoing wireless sales growth, Rogers activated a gross total of 614,000 smartphones on its network in the three months to the end of September 2014, of which 31% were new subscribers, and reported that smartphone customers now represent 77% of all its post-paid wireless subscribers. In 4G LTE developments, Rogers reported that in Q3 it deployed its recently acquired 700MHz spectrum to expand and upgrade mobile broadband services in rural and urban communities in the provinces of Ontario, British Columbia, Alberta, Quebec and New Brunswick (having initially switched on commercial 700MHz frequencies in selected Ontario, British Columbia and Alberta locations).
2015 action plan published for comment
Romanian telecoms watchdog the National Authority for Management and Regulation in Communications (ANCOM) has published for public consultation its draft action plan for 2015. ANCOM highlighted in a release on its website that, amongst other projects, it will continue reviewing the relevant internet access markets including leased lines, identifying potential providers with significant market power and establishing appropriate regulatory measures. ANCOM also plans to allocate additional spectrum resources for broadband communications by holding an auction for spectrum licences in the 3.4GHz-3.8GHz frequency band. The authority will also support the transition to digital terrestrial television (DTT) via a tender in the second quarter of 2015 for the remaining digital multiplexes while technically authorising the DTT multiplexes granted in 2014.
MobiNil narrows net loss in 3Q 2014
Egyptian Company for Mobile Services, which offers services under the MobiNil banner, is said to have recorded a net loss of EGP390 million (USD54.5 million) in its unaudited consolidated financial results for the three months ended 30 September 2014. According to Ahram Online, this figure represented an improvement on the previous quarter, however, with MobiNil having reported a loss of EGP447 million in 2Q 2014. The narrowing of the net loss was said to have been attributed to improving economic conditions in Egypt, although the company did blame higher fuel prices and a recent 5% increase on income tax for higher operational costs and an increasing tax burden. Meanwhile, turnover in the third quarter of 2014 stood at EGP8.2 billion, representing a 5.1% quarter-on-quarter increase from the EGP7.8 billion generated in the previous quarter.
FCC pauses ?shot-clock? on AT&T, DirecTV review
The US Federal Communications Commission (FCC) has paused its informal ?shot-clock? deadline on the review of the proposed USD48.5 billion takeover of pay-TV giant DirecTV by AT&T Inc. The watchdog, which will determine whether the deal is in the public interest, has reportedly suspended the self-imposed 180-day evaluation in order to decide how best to handle highly confidential documents related to DirecTV?s agreements with media companies; the review was paused on day 76. According to the news agency, a number of prominent content companies have expressed concerns about sharing the details of such agreements with the FCC, saying the agency's filing process threatens the documents' high level of confidentiality, and risks giving competitors an insight into sensitive business arrangements.*As previously reported by TeleGeography?s CommsUpdate, earlier this month the regulator also paused the shot-clock on its review of the USD45 million Comcast-Time Warner Cable (TWC) deal, on day 85. The 180-day clock for that deal will resume on 29 October, which is the new deadline for the public and stakeholders to comment on the so-called ?mega-merger?.
Telenet?s 9M14 net income slumps on non-cash loss on derivatives
Belgian cableco Telenet has published its financial results for the nine months ended 30 September 2014, revealing a 53% decline in net profit for the period to EUR71.4 million (USD96.8 million). Despite the company recording what it termed a ?robust? level of growth in operating profit in the nine months under review, it said that net income had fallen compared to 9M 2013 due to it incurring a EUR54.1 million non-cash loss on derivatives and recording a EUR7.3 million loss on the extinguishment of debt. Operating profit, by comparison, rose by 12% year-on-year to EUR414.5 million in 9M 2014. Total turnover in the first nine months of 2014 was EUR1.271 billion, representing a 4% year-on-year increase, with the increase said to have been ?impacted by substantially lower revenue from the sale of standalone handsets, lower analogue carriage fees and lower usage-related revenue?. According to Telenet, all of the revenue growth recorded for the period was organic and directly driven: by multi-play subscriptions; selective price increases on certain fixed services in February 2014; an increased contribution from mobile voice services; and a 4% increase in business services revenue. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in the nine-month period totalled EUR687.4 million, meanwhile, representing an 8% increase against the corresponding period in 2013.*In operational terms, at the end of September 2014 Telenet?s broadband subscriber base stood at 1.512 million, up from 1.442 million a year earlier, while fixed voice accesses rose to 1.133 million, from 1.029 million at end-September 2013. Mobile voice customer numbers saw a notable increase, meanwhile, rising by 22% year-on-year to 868,500. On the back of the results, John Porter, Telenet?s chief executive officer, noted: ?Looking back at our solid financial performance over the first nine months and taking the current operational trends into account, we reconfirm our full year outlook. Hence, we continue to target revenue and adjusted EBITDA growth of between 4%-5% and between 5%-6% respectively for the full year. Accrued capital expenditures are expected to reach between 20%-21% of our revenue, while we anticipate to generate free cash flow between EUR230-EUR240 million.?
T-Mobile CR announces VoLTE pilot, paper says
Wireless operator T-Mobile Czech Republic has announced the launch of a voice-over-Long Term Evolution (VoLTE) pilot trial ? a first for the country. According to Telecompaper the cellco, which is backed by Deutsche Telekom, says that the trials are being conducted internally to test functionality and further enhance VoLTE, ahead of a planned commercial launch next year. According to TeleGeography?s GlobalComms Database, T-Mobile plans to cover 51% of the population and 73% of the territory with its 4G network by the end of 2014 while the cellco?s combined 3G/LTE network infrastructure will reach 93% of inhabitants in 80% of the country by the same date. The cellco is investing CZK4 billion (USD182.5 million) in 4G ? including buying the licence ? and plans to invest an additional CZK13 billion in the coming years. It has already launched LTE commercially in the 800MHz band in the district of Plzen-South in Prague and will continue to extend to other parts of the capital with the aim of covering the entire city by end-October.
SoftBank Corp, Sequoia Capital invest USD100m into Tokopedia Indonesia
Japanese telco Softbank Corp and investment group Sequoia Capital have announced investment of USD100 million into Indonesia?s leading e-commerce marketplace, PT Tokopedia, according to statement published on Wednesday. The investment is the Japanese operator?s first major foray into Indonesia, which completed the investment via its SoftBank Internet and Media, Inc (SIMI) division. It is understood that both new investors will take board seats as part of the investment, which is expected to close by December. Tokopedia CEO William Tanuwijaya said: ?With this new round [of funding], Tokopedia will have enough resources to form the best team, develop world class technology to help our merchants and bring the best commerce experience to our users?.*Industry watchers note that the two companies? Indonesian investment comes at a time of increased M&A activity in Asian e-commerce firms. In May this year, Sequoia spearheaded a USD100 million injection into South Korea?s Coupang, while Berlin-based internet incubator Rocket Internet went public earlier this this month.
UPC launches Dutch voice/data MVNO
Cableco UPC Netherlands has launched a mobile virtual network operator (MVNO) voice and data service, initially offering a range of three SIM-only subscriptions under the UPC Mobile brand. The company?s press release advertises the monthly-terminable subscriptions as offering the benefit of sharing one bundle with up to four other people at an extra EUR10 (USD12.6) per month per SIM card, with each customer having their own number but sharing the plan and costs. The operator plans to roll out the service in phases to ?ensure customer satisfaction?, with UPC Mobile packages currently only available to a select group of consumers, but to be open to UPC?s entire subscriber base by the end of the year, establishing the company as a true quadruple-play operator. All subscriptions offer unlimited SMS, with the smallest ?Basic? subscription costing EUR12.50 per month in return for 100 minutes and 300MB of data; the ?More? package is priced at EUR20 per month, providing 400 minutes and 1.5GB of data, and the largest subscription, ?Endless?, includes unlimited minutes and 4GB data. UPC Mobile offers access to more than 500,000 Wi-Fi spots throughout the Netherlands. The host network for the UPC Mobile voice/data service was not immediately confirmed, although TeleGeography notes that UPC forged a data-only 3G wholesale network access agreement with Vodafone Netherlands last year for mobile Mi-Fi device users to augment the cableco?s existing Wi-Fi hotspot facilities, while fellow Dutch cableco Ziggo ? which UPC is in the process of merging with ? also operates as an MVNO over Vodafone Netherlands? network.
Vimpelcom makes a beeline for Grozny with LTE commercial launch
One of Russia?s so-called ?big four? mobile operators, Vimpelcom (Beeline), has launched Long Term Evolution (LTE) commercially in Grozny, noting that currently its 4G signal covers 80% of the Chechen Republic capital?s urban areas. In a press release yesterday, Beeline said its frequency division duplexing-LTE (FDD-LTE) network, operating in the 2600MHz and, is capable of delivering maximum peak data rates of over 70Mbps, with average throughput at between 17Mbps and 22Mbps. The carrier?s 4G network is already present in other parts of the South and North Caucasus region, including Stavropol, Rostov-on-Don, Astrakhan, Kalmykia Republic of Ingushetia, Karachay-Cherkessia and Adygea.*Beeline is not the sole Russian cellco to bring 4G to Grozny. In June this year, MegaFon announced that its LTE network was now live in the Chechen Republic, marking the 56th region of Russia where it has launched high speed mobile internet. According to MegaFon, its 4G network also provides coverage of more than 80% of Grozny, with peak download speeds of up to 100Mbps. By the year end it intends to have increased LTE coverage in Grozny to 90%.
Kuwait Investment Authority to offload stake in Zain Group
Kuwait Investment Authority (KIA), the country?s sovereign wealth fund, has announced that it would sell its stake in Kuwait Investment Co (KIC) in 1H 2015, while its share in telecoms operator Zain Group (registered as Mobile Telecommunications Company KSCP) and the Kuwait Finance House would be offered to the public ?at a later time?. KIA said that it will continue to support the local market by reinvesting capital raised from offloading the shares in investment products and funds. Following the announcement, the Kuwaiti Stock Exchange (KWSE) suspended trading of KIC, Zain Group and Kuwait Finance House shares, pending more clarification of KIA?s plans; trading of the stocks will resume on 26 October 2014. According to TeleGeography?s GlobalComms Database, Zain Group had market capitalisation of KWD2.853 billion (USD10.07 billion) at end- September 2014, placing it in the top 20 ranking of the largest Middle Eastern companies. KIA owns a 24.61% stake, while the largest private shareholder is Kuwaiti-based Kharafi Group with a 15.47% stake (up from around 9.5% in 2008). 9.83% of Zain?s stock is held as treasury shares, with the remainder floated on the Kuwaiti bourse.

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