Feb 14 2008 |
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Galaxia Telecom International PLC [GTI] lists on the Frankfurt Stock Exchange
GTI rolls out the largest commercial WiMAX network in Africa. Listing allows investing in wireless broadband communications technology and in emerging markets simultaneously
. Largest nationwide commercial wireless broadband network based on WiMAX technology rolling out in Algeria
. WiMAX will bridge the digital divide in Algeria
Investing in wireless broadband technology and emerging markets
Today's listing of the company's shares on the Frankfurt Stock Exchange offers investors the opportunity to invest both in wireless broadband technology and in emerging markets.
"Galaxia Telecom is one of the few listed companies in the wireless WiMAX area with exposure to the potentially high growth rates for WiMAX services in emerging markets. The European listing for Galaxia Telecom International PLC comes at a turning point in demand for WiMAX services and provides investors with a route to access the growth of broadband wireless telecommunications solutions internationally," Dr. Abdellah Hoummady, CEO, Galaxia Telecom International PLC, commented.
Bridging the digital divide
WiMAX technology is the greatest hope in terms of bridging the digital divide in emerging markets at reasonable costs, while at the same time leapfrogging the traditionally slower development stages of the telecommunication infrastructure in developed markets.
"By embracing WiMAX technology on such a large scale, Algeria has decided to make a big push to reduce the digital divide both within Algeria itself and vis-à-vis the rest of the world. In our view, it is the optimal technology, reliable and cost effective for a large country such as Algeria, which needs to cover the needs of a sizeable but dispersed population of 33m people across a vast territory over 5 times the size of Germany," explains Dr. Hoummady.
GTI is currently engaged in discussions with a number of other national operators and WiMAX related providers worldwide.
Wireless broadband services for businesses and consumers
At the same time, the deployment of WiMAX in Algeria, called "Athir", is the first commercial application of WiMAX technology on a nationwide scale, and is the result of a groundbreaking agreement between Galaxia Telecom International (GTI) and Algérie Télécom ( AT ) - the largest telecommunications service provider in Algeria.
"At a time when technological innovations are evolving at a fast pace and the norm is for new technologies to become quickly outdated, the launch of the WiMAX network is a concrete response to real concerns in addressing the need for widely available, fast and cheaper communication services in Algeria, thus bridging the digital divide," His Excellency Dr. Boudjemâa Haïchour, the Algerian Minister for Post, Information Technology and Communication, says.
According to the contract, Algérie Télécom will provide existing infrastructure, access network, marketing and distribution, with Galaxia Telecom providing broadband equipment (base stations, CPEs), installation, BWA network backbone, platforms and training.
The Algerian WiMAX network has been undergoing testing in the last six months in all weather conditions. In the first phase of deployment, targeted customers will be businesses, government and organizations (B2B). The second phase, starting in September 2008, will be focussed on consumers.
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About Galaxia Telecom International PLC
Galaxia Telecom International PLC is a Canadian company with an international footprint specializing in the innovation and deployment of wireless broadband technologies, most specifically in WiMAX. Galaxia Telecom designs and integrates Broadband Wireless Access (BWA) end-to-end solutions and products and has extensive experience in modular solution design and manufacturing, rapid time-to-market and cost effective solutions, employing state-of-the-art and industry standard access technologies. www.galaxiatelecom.com
About WiMAX
WiMAX is a wireless interconnection for fixed, (and, in future, mobile) customer broadband access (World Interoperability for Microwave Access). WiMAX provides a wireless alternative to cable and
DSL and an economical "last mile" for companies and individuals, especially in countries with a low level of wired infrastructure. WiMAX technology permits "triple play" (voice, data, and video) and in the near future "quadruple play" (adding mobile voice and data).
About Algeria's telecom market
Algeria has 33m inhabitants and has one of the largest young populations in the Middle East, with a median age of 25.2 years. The number of internet users in Algeria is estimated at 2.46 million. High speed internet access is very scarce at approximately only 200,000 users in the whole country (0.6% of the population) and is considered a luxury reserved for larger corporations and organisations. Access to the internet at present in Algeria is via DSL or Satellite High speed. Fixed-line penetration rate is still very low in the country, with approximately 7 per 100 persons having a main-line connection in 2004.
Forward-looking statements
Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the Frankfurt Exchange, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. You should independently investigate and fully understand all risks before making investment decisions.
For further enquiries please contact:
David Hothersall / Noemie Diaz
Tel. +44 207 638 3435
Email: davidh@kinlan.net
Kinlan Communications & Investor Relations, London
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