Etisalat officially secures 3rd mobile license in Iran
Emirates Telecommunications Corporation- Etisalat today announced that it has officially won the third mobile network license in the Islamic Republic of Iran in consortium with Taameen Telecom, a company owned by the Iranian Social Security Organization (SSO) that serves more than 30 million Iranians through pension funds. The new license includes 2G and 3G with a two year exclusivity for offering the latter.
Final announcement by the Communications Regulatory Authority (CRA) was made following obtaining official approval of the government in Islamic Republic of Iran. Etisalat won over other bidders in terms of technical qualifications and its offer of revenue sharing percentage with the government throughout the license duration. Upfront license fee is 300 million EUROs and Etisalat’s share in the consortium is 49%. With this Etisalat enters its eighteenth market.
Mohammad Hassan Omran, Chairman, Etisalat, said: "Winning the third mobile license in the Islamic Republic of Iran further consolidates Etisalat’s position as the leading telecommunications operator in the region and shows its competitive edge and strength to enter new markets and support telecommunications sectors in these markets”.
“We have been always keen to enter the Iranian Telecom market as it fits our growth strategies. The Islamic Republic of Iran has a very attractive investment environment and our intention was endorsed by careful studies for the Iranian market and all the economy indicators.” added Omran.
Omran expressed his appreciation to the CRA for their transparency throughout the bidding process.
Etisalat currently operates in 17 international markets with combined total population of 1.6 bn people and has more than 74 Million subscribers. “The telecom market in the Islamic Republic of Iran has a very promising future, mainly due to its rapidly growing population estimated at 73 million people , young generation constitutes a large percentage of the population, and the low penetration rate of mobile telephony and other telecommunications services with around 40 million 2G subscribers divided between two national operators and 3 other regional operators. We are confident of the growth potential of this important market especially with our two year exclusivity to offer 3G services” Said Jamal Al Jarwan, CEO International Investments, Etisalat