Tuesday, May 29, 2012
BEIRUT (Zawya Dow Jones)--Kuwait-based Hits Telecom Holding Co. (HITSTELEC.KW) plans to expand into new markets--particularly emerging markets--by acquiring influential stakes in telecom companies, Kuwait-based An Nahar daily reports Tuesday citing an executive.
Meanwhile, Hits Telecom will continue to expand in the markets where it already operates whether in Africa, Spain, or elsewhere, the company's chairman Sultan Bahabri, said according to the paper.
Indications show that the company's customer base is on its way to grow 25% in the current year, the daily cites him as saying.
Hits Telecom's total revenue, which was $262.7 million in 2011, is expected to increase substantially in 2012 as the company about to benefit from its investments, Bahabri said, the newspaper reports.
Newspaper website: http://www.annaharkw.com/annahar/Article.aspx?id=332691&date=29052012
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
29-05-12 0607GMT
