7 Mar 2013
UAE-based telecoms group Emirates Telecommunications Corporation (Etisalat), which has operations in the Middle East, Africa and Asia, expects revenue for this year to be 3%-5% higher than the AED32.95 billion generated in 2012, Reuters cites a presentation the company gave to analysts as saying. The document showed that earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to be 49%-51% of revenue in 2013, compared with 51% last year, while capital expenditure is seen at 14%-16% of revenue, up from 13% in 2012. The former monopoly also noted that it is interested in consolidation in ‘fragmented markets’, potentially through mergers, acquisitions or asset sales, though the company did not specify in which countries it was looking to consolidate its operations. Etisalat is also keen on increasing stakes in core operations, ‘subject to feasibility and economic viability.’ At present, the Abu Dhabi-based firm is looking to buy a 53% stake in Moroccan incumbent Maroc Telecom from France’s Vivendi, in a deal which could potentially be worth as much as USD7 billion.