Kuwait’s Wataniya Telecom bidding for Bahraini second mobile license
Wataniya Telecom, the mobile communications provider that brought competition to the Kuwaiti telecommunications market, has formally announced that it has joined the bid for Bahrain’s second mobile telecommunications license in a move that follows the company’s regional expansion strategy.
“The move comes directly as a result of the clear and positive signal from Bahrain’s government that it has built a world-class regulatory environment in order to build a competitive telecommunications market in the Kingdom,” according to a company press release.
With over 675,000 subscribers in Kuwait, Wataniya Telecom, which also owns 50 percent of Tunisian GSM operator Tunisiana, is a publicly traded company on the Kuwait Stock Exchange, an affiliated company of Kuwaiti Projects Company (KIPCO), a major diversified
company with interests in finance, media and entertainment and with over $10 billion of assets under its control.
Launched in December 1999, Wataniya Telecom is the second licensed GSM (Global System for Mobile Communication) mobile operator in the State of Kuwait. With a market capitalization exceeding $1.5 billion, the company has been a driving force in increasing the mobile communications market penetration in Kuwait to over 54 percent of the population. — (menareport.com)
© 2003 Mena Report (www.menareport.com)