15 Oct 2012
Emirates Telecommunications Corporation (Etisalat), which has operations in 17 countries across the Middle East, Africa and Asia, will not quit any of its foreign markets, Reuters cites the company’s chief executive, Ahmad Julfar, as saying at the sidelines of a conference. ‘We are not going to exit any markets… We are very happy with our international operations, even Africa,’ Julfar said. The comment follows Etisalat’s decision to sell most of its 13.29% stake in Indonesian mobile carrier XL Axiata for IDR4.88 trillion (USD510.03 million) last month, retaining a 4.2% holding. Earlier this year the company announced its withdrawal from India, after the country’s Supreme Court cancelled 122 2G operating licences, including that of Etisalat DB (formerly known as Swan Telecom), in which Etisalat held a 45% stake. TeleGeography’s GlobalComms Database states that Etisalat’s current footprint includes Egypt, where it holds a 66% stake in Etisalat Misr, Nigeria (Etisalat Nigeria, 40%) and Afghanistan (Etisalat Afghanistan, 100%). Via its wholly-owned unit Atlantique Telecom, Etisalat is also active in Cote d’Ivoire, Benin, Togo, Gabon, Niger and the Central African Republic.