Wataniya Telecom signs agreement for second wireless licence

15 Mar 2007

Wataniya Palestine Mobile Telecommunications Company, the company formed by Wataniya International and the Palestine Investment Fund (PIF) to launch Palestine’s second wireless network, has signed a licence agreement with the Ministry of Telecommunications and Information Technology (MTIT) bringing the arrival of the new Palestine mobile operator one step closer.

The terms of the licence agreement have been in negotiation since Wataniya International successfully bid JOD251 million (USD356 million) for the concession in September 2006. ‘The signing of the mobile services licence agreement is another step towards realizing the vision for a second mobile services operator in Palestine,’ said Ahmad Haleem, Chief Executive Officer of Wataniya International.

Wataniya Palestine Mobile Telecommunications Company is 40% owned by Wataniya International and 30% owned by the PIF, while the remaining shares will be offered to the Palestinian public through an IPO.

Palestinian Territory, Ooredoo Kuwait