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Asiacell to invest USD1bn in network expansion

5 Jun 2008

Iraqi mobile operator Asiacell Communications Company plans to spend USD1 billion over the next two years to expand its network coverage and boost subscriber uptake. The spending plans were unveiled by Faruk Rasool, the chairman of Qatar Telecom (Qtel), which owns a 30% stake in the company. Speaking on the sidelines of a conference in Dubai, Rasool said Asiacell aims to increase its subscriber base from five million to six million by the end of this year.

TeleGeography’s GlobalComms database writes that Asiacell’s other shareholders are Asiacell Iraq (30%) and investment group Merchant Bridge (40%). Asiacell Iraq is majority-owned by Iraqi investors.

Iraq, Asiacell

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