Etisalat Misr: a million customers in 50 days

27 Jun 2007

Etisalat Misr has celebrated its first 50 days of operation, and has announced that it has signed up close to a million customers already. Etisalat launched Egypt’s third wireless network in May, becoming the country’s first 3G and 3.5G provider.

Etisalat Misr is 66%-owned by UAE-based Etisalat, with the remainder split between domestic partners including Egypt Post, National Bank of Egypt and Commercial International Bank (Egypt). The firm has committed to selling a stake of around 30% via a public offering; no schedule for the sale has been announced, although it is unlikely to occur before 2009. The company is aiming to have signed up ten million subscribers by 2010.

Egypt, Etisalat Misr