Etisalat eyes acquisitions in six markets

UAE-based telecoms operator Emirates Telecommunication Corporation (Etisalat) is currently looking at expanding its presence in six countries across the Middle East and North Africa, Reuters reports. According to the telco’s chairman, Mohammad Hassan Omran, Etisalat has targeted Iraq, Libya, Lebanon, Oman, Syria and Morocco as markets with low penetration levels in which the UAE firm could acquire either a licence or a telecoms operator. ‘Etisalat is in an excellent position – financially and operationally – to capitalise on these opportunities,’ Omran said. As reported by CommsUpdate, Etisalat last week revealed that its subscriber base has exceeded 100 million customers across 18 markets in the Middle East, Asia and Africa, covering two billion people. The company has also said it is targeting majority stakes in its subsidiaries and associates for greater operational and financial synergy.