Kuwait's Zain looks to up stake in Morocco telco

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Kuwait's Zain Group, one of the Middle East's largest telecoms operators, could seek to increase its stake in Morocco's inwi, CEO Scott Gegenheimer told Arabian Business, as well as seeking other acquisitions.

The operator, which is present in eight countries across the region, currently owns a 15.5 percent stake in inwi, but would be eager to increase its shareholding in the mobile operator.

"We think it's a very well run company, we'd love to increase our stake," Gegenheimer told Arabian Business on the sidelines of Mobile World Congress in Barcelona.

Gegenheimer added that Zain was also seeking acquisitions in North Africa, in sectors including internet service providers (ISPs) and content.

"We are looking  for acquisitions. Both large mobile operators and in the adjacent markets. Over the next 18 months to two years you'll see much more in the adjacent markets, looking at ISPs, data centres, fibre plays, content," he said.

"We want to stay in the MENA region, so North Africa is interesting for us. But the area that is challenging is valuations, we've got to make sure they're realistic," Gegenheimer added.

Gegenheimer also told Arabian Business that he was confident that a long-delayed bidding process for 3G licences in Iraq would take place at some point this year.

Related:
Companies

Market Performance

Zain - Kuwait
650.0
0.0 0.0 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
The politics of big data

The politics of big data

The UAE may be one of the fastest adopters of e-government initiatives...

Gateway to a new era

Gateway to a new era

Could Telr be the answer to start-ups’ prayers? The new three...

7 of the best accounting apps

7 of the best accounting apps

Tamara Pupic tracks down some of the best accounting apps on...

1
Most Discussed
  • 9
    UAE teens among the highest for obesity rates

    @MT3 I forgot to add that of course this is assuming that the UAE moves toward a single payer model, something that I think has never been considered ... more

    Thursday, 28 August 2014 8:36 PM - Telcoguy
  • 9
    Smoke-free Dubai - the big debate

    Surprisingly the only studies that show a negative financial impact of the smoking ban on the hospitality industry are sponsored by tobacco companies ... more

    Wednesday, 27 August 2014 4:19 PM - Telcoguy
  • 3
    Saudi Arabia said to shelve plan for shorter working week

    It is working fine in the other gulf countries. In Oman, it is working very well and people, including business owners, adapted. Prices did not significantly... more

    Thursday, 28 August 2014 6:23 PM - Tariq AD