Investcom ups stakes in Yemen and Sudan

28 Apr 2006

Lebanon-based Investcom has announced that it has finalised deals with Al Bashair Telecom to increase its ownership in its Yemeni and Sudanese subsidiaries. The transactions see Investcom’s stake in Spacetel Yemen increased by 40% to 82.8%, while an additional 30% has been acquired in Areeba (Sudan), taking Investcom’s ownership to 85%. ‘Yemen and Sudan are very important markets for Investcom and both have shown solid growth to date and continue to contribute positively to our company’s success,’ said CEO Azmi Kikati, before adding, ‘In 2005, we saw total subscribers in Yemen almost double. After just five months of operations in Sudan in December 2005, we have reached gross operating revenues of more than USD20 million with a market share of 12%.’

Sudan, Yemen, MTN Yemen, MTN Sudan,

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