We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Sun 17 Aug 2003 04:00 AM

Font Size

- Aa +

Customers flock to Tunisiana

Tunisia's second GSM operator signed up over a quarter of a million customers in its first six months of operation; breakeven is expected soon.

Tunisiana, Tunisia's second GSM operator, picked up more than a quarter of a million customers in its first six months of operation.The company, whicb switched on its network on December 27, 2002, had 251,656 'active' subscribers by the end of June 30, 2003.Tunisiana, 50% owned by Kuwait's Wataniya Telecom, reported revenue of KD7.1 million (US $23.7 million) and a post tax loss of KD1.5 (US $5.0 million) for the second quarter ending June 30.“Competition in the Tunisian market has clearly stimulated demand,” said Faisal Al Ayyar, chairman of Wataniya Telecom. “When we entered the market there were approximately 400,000 subscribers. Now, just six months after our successful launch of service, there are more than 1.1 million GSM subscribers in Tunisia. Tunisiana is EBITDA [earnings before interest, taxes, depreciation and amortisation] positive and we expect to break even soon.”Wataniya paid US $113.5 million in 2002 to acquire its 50% stake in the company.

Arabian Business: why we're going behind a paywall

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.

Read next