SHARJAH, 23 April 2005 — Etisalat, the Emirates Telecommunications Corporation, has acquired a 50 percent stake in the West African mobile operator Atlantique Telecom, securing a 10-year contract to manage operations in six countries.
Atlantique Telecom owns majority shareholdings in mobile operators in Benin, Burkina Faso, Gabon, Niger, Togo and Ivory Cost.
Etisalat holds mobile phone franchaises in Saudi Arabia and Sudan and also holds stakes in Thuraya, the global satellite-based telecom services provider, Qatar Telecom (Q-Tel) and in Africa Zanzibar Telecom (Zantel), multiple investments in Sudan, the latest in the Kanartel consortium adding to its holding in Sudan Telecommunications Company (Sudatel).
Etisalat said the investment in Atlantique considerably boosts presence in Africa and opens up access to the huge markets on the continent’s west coast.
“This is a huge success for our efforts to roll out our premium services and cutting-edge technology across the Middle East and Africa region,” Etisalat International Chief Executive Officer Obaid ibn Mes’har said in a statement. The corporation has been making efforts to expand internationally through investments abroad.
It invested in the Etihad Etisalat consortium that led to the launch of Mobily and a multi-billion dollar Islamic funding exercise in Saudi Arabia.
“This strategic alliance further complements Etisalat’s considerable international investments, which includes a significant stake in Etihad Etisalat in Saudi Arabia, in addition to the investment in the Kanartel consortium in Sudan,” Mes’har said.
“Etisalat will continue to seek strategic partnerships and alliances in-line with its international investment strategy to further strengthen its position as the leading telecom service provider in the region and beyond,” Mes’har said.
“Our success in acquiring 50 percent of Atlantique, along with a 10-year management contract, reflects the quality of the services provided by Etisalat wherever it operates. The standards we bring and the level of service we offer are very difficult to match,” he added.