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Etisalat set to purchase majority stake in Korek Telecom (Iraq)

March 15, 2010
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Etisalat set to purchase majority stake in Korek Telecom (Iraq) UAE-based Emirates Telecommunications Corporation (Etisalat) is in the process of purchasing a majority stake in Iraq-based operator Korek Telecom. The move is a part of the company's plans to expand into six markets in the Middle East and North Africa –­ Iraq, Libya, Lebanon, Oman, Syria and Morocco –­ where penetration levels are low. Etisalat first expressed an interest in buying a 51 per cent stake in Korek for $1 billion in October 2008. L

 
 
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