Etisalat officially cools talks with Zain
UAE operator Etisalat has officially called an end to its talks with Zain, despite the fact that the latter may have found a buyer for its Saudi unit.
Kuwait-based operator Zain on Tuesday reported a seven per cent year on year increase in net income for the first nine months of 2011, to reach $762.5m, supported by a 2.2 per cent increase in revenues to reach $3.6bn.
An increasingly bitter war between Kenyan operators Safaricom and Airtel has spilled into the country’s mobile number portability (MNP) space. Barely two weeks after the country introduced MNP, a war of words has broken out between the two telcos, with each accusing the other of sabotage and the use of nefarious tactics to prevent subscribers from switching providers.
UAE operator Etisalat has officially called an end to its talks with Zain, despite the fact that the latter may have found a buyer for its Saudi unit.
The on again off again sale of Zain’s Saudi Arabian operation looked a bit more solid on Tuesday, when the Kuwait-headquartered carrier accepted an offer, from a joint venture made up of Bahrain’s Batelco and Saudi Arabia’s Kingdom Holding Company (KHC).
For a long time, Informa Telecoms & Media analysts have felt like lone voices in the wilderness, banging on about the potential for MVNOs in Saudi Arabia, only to be met with apparent indifference and even scorn.
India-based Bharti Airtel, the new owner of Zain’s African assets has begun the re-branding process across the 16 operations in the region.
UK-based carrier Vodafone, Big Red as it’s affectionately known, is in a right old pickle. Pieter Knook, the ex-Microsoft man hired to spearhead the operator’s designs on the mobile internet space, has done the Frank with barely concealed glee. Just prior to his exit on Tuesday, Knook had posted his parting shot (since removed) on twitter. “Freedom beckons,” he tweeted as he went skipping off into the sunset leaving the smoking wreckage that is Vodafone 360 behind him.
UAE operator Etisalat’s offer for a 46 per cent stake in Zain is a move that makes a lot of sense in terms of advancing Etisalat’s own expansion plans, according to analysts at Informa Telecoms & Media.
UAE operator Etisalat is reportedly negotiating for a 46 per cent stake in Kuwaiti operator Zain, in a deal that would be worth $10.5bn.
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