Telecoms expand internationally

Telecom expands internationally:

Riyadh (Teletechwire): Speaking at Al Arabiya symposium in Dubai on the future of the telecommunication sector, Ghassan Hasbani, CEO of STC International Operations, stated: “The regional and global expansion for operators in the telecommunication services is part of strategic plans that aim at expanding operations beyond the current borders and to maximize the value of the expanding companies”

The seminar organized by Al Arabiya Channel focused on the future of the telecommunication sector in the region and was part of the media and marketing exhibition held at the International Exhibition Center in Dubai, UAE, from the 13th-15th of December 2010. Participants at the seminar along with Hasbani included: Othman Sultan, Executive Director of Du Telecommunications; Dr. Paul Doany, Executive Director of Ojer Telecom: and Ali Ahmed from Etisalat.

While speaking of the challenges surrounding the sector, Hasbani attributed the lack of funding opportunities in the past to the effects of the global financial crisis during which debt financing was not readily available, in addition to the lack of interest to sell at low premiums by current owners. However, the current interest by some private equity investors to exit the telecommunications sector, and the availability of funding, opened up the door for further acquisitions by telecom operators.