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
365.0
15.0 4.29 (%)
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!

All comments are subject to approval before appearing

Further reading

Features & Analysis
What has caused the renaissance of a can-do attitude among Egyptian entrepreneurs?

What has caused the renaissance of a can-do attitude among Egyptian entrepreneurs?

In the midst of terror attacks and economic upheaval, Egypt is...

Busy times at Google-partnered tech hub AstroLabs

Busy times at Google-partnered tech hub AstroLabs

Between its launch event, its first roadshow and a 54-hour-long...

Dubai's first tech hackathon

Dubai's first tech hackathon

Inside the ideas in the AstroLabs competition

Most Discussed
sponsoredTracking