Kippreport investigates if oil prices aren’t the only cause for the market slumpAugust 27, 2015 12:00
Ringing it in
Telecom operators in the UAE have weathered the crisis well, and now seem set for further growth.
October 19, 2009 1:34 by Aarti Nagraj
Etisalat already has investments in various Asian countries including Pakistan, Afghanistan, Indonesia and India. According to officials, it is looking at more deals in Africa and the Middle East.
“At this time, Etisalat is unlikely to look at European countries due to the lack of growth opportunities and limited openings there,” the company’s chairman, Mohamed Omran, said in a statement.
But it’s not only Etisalat that is looking at expansion; its sole local competitor, du, has revealed plans to invest up to AED5 billion on capital expenditure by next year. However, du – which will be releasing the latest iPhone in the UAE later this month – is pursuing a more local growth plan.
“Our capital expenditure will exceed AED2.5 billion in 2009, and we’re expecting to spend the same amount in 2010,” the company’s CEO, Osman Sultan, said at the Gitex exhibition on Sunday. “We’re not slowing down any spending. The main focus is the broadband network.”