KUWAITI WATANIYA TELECOM WINS 3RD MOBILE LICENCE IN ALGERIA
Wataniya Telecom, which already operates in neighbouring Tunisia, bid 421 million dollars, beating offers of 409 million dollars from Telefonica of Spain and 375 million from MTN of South Africa.The company said the penetration rate of mobile users among Algeria’s 32 million people is under 4.5 percent, which leaves scope for major development.
"Wataniya Telecom’s Algeria network deployment programme will commence immediately with a target of providing a service level expected by the Algerian people within six months," chairman Faisal al-Ayyar said. With market capitalization of 2.4 billion dollars, Wataniya Telecom has more than 800,000 users in Kuwait and some 380,000 subscribers in Tunisia. Wataniya is a member of the KIPCO Holding Group, which has assets of more than 10 billion dollars and is headed by Sheikh Hamad Sabah al-Ahmad, the son of Kuwait’s prime minister, Sheikh Sabah al-Ahmad al-Sabah.
Wataniya was the highest offer with a bid of USD421 million. There were three bidders with Wataniya Telecom bidding the highest, Telefonica of Spain coming in second at USD409 million and MTN of South Africa coming in third with a bid of USD375 million.
Algeria Interface and AME Info