23 May 2006
Intel Capital, the venture capital investment arm of Intel Corporation, has announced agreements to form WiMAX joint ventures with Egypt’s Orascom Telecom and Enertel Holding of the Netherlands. Intel will set up Orascom Telecom WiMAX Limited with Orascom Telecom and Worldmax with Enertel. Both investments are expected to be completed shortly, following the fulfillment of certain conditions and the receipt of various approvals.
Orascom Telecom WiMAX Ltd will focus its efforts on working with governments and companies throughout the Middle East and parts of Asia to obtain suitable spectrum for the deployment of WiMAX services. Worldmax is targeting the deployment of WiMAX services in the Netherlands. In addition to funding and personnel, Enertel is also contributing its nationwide 80MHz of 3.5GHz spectrum to support the new joint venture. No financial details were disclosed.