France Telecom eyes African expansion
Elie Girard, executive VP of strategy and development, states that France Telecom's priority is countries with low mobile penetration as well as high growth potential and that recent political unrest was not derailing its ambitions.
FT.com reveals that the French telco, which signalled its interest in the Syrian market last November, is still pursuing growth in other Middle Eastern markets, as part of its goal to double its revenues in Africa and the Middle East by 2015.
This month it acquired a 20% indirect stake in Korek Telecom, Iraq's third-largest mobile phone operator, for $245 million.
France Telecom also blamed the terms and conditions of the Syrian licence, states Total Telecom.
The decision to withdraw “is not linked to events in Syria but the conditions of the licence,” claims the French incumbent.
That leaves Qatari incumbent Qtel and Saudi Telecom Company (STC) to slug it out to acquire the rights to become Syria's third mobile operator.
Qtel recently said it would pursue the Syrian opportunity, while there has been no comment from STC.
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