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Asiacell expects 30% rise in revenue

9 Jun 2010

Iraqi mobile operator Asiacell expects revenue to increase around 30% this year, boosted by demand from an influx of foreigners working in the oil sector, Reuters reports. According to the cellco’s CEO Diar Ahmed, turnover will rise to between USD1.4 billion and USD1.5 billion in 2010, compared to USD1.1 billion a year earlier, despite a global downturn and a tough investment climate. He added that Asiacell signed up almost half of the two million new subscribers in Iraq in 2009 and growth is expected to accelerate as the private sector plays a wider role in an improved regulatory climate. Commenting on the government’s plans to license a fourth national operator, in which the Ministry of Communications (MoC) would have a 35% stake, Ahmed said: ‘The entry of the MoC as a competitor will create a conflict of interest because the government cannot be an operator and regulator and competitor at the same time.’ Asiacell Communications is a consortium comprising Asiacell Iraq (30%), Qatar Telecom (Qtel, 30%) and investment group Merchant Bridge (40%).

Iraq, Asiacell

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