Abu Dhabi - Etisalat today announced the acquisition of additional shares in Atlantique Telecom. This brings Etisalat's total shareholding to 70%, an increase of 20%.
Atlantique Telecom holds variant majority shares in seven telecommunications organisations across the Ivory Coast, Benin, Burkina Faso, Gabon, Niger, Togo and the Central African Republic. These countries hold a combined population of approximately 60 million and mobile phone penetration of less than 10%.
Etisalat started its relationship with Atlantique Telecom in 2005, when it acquired 50% of the company. Today, Etisalat supervises the operations of Atlantique Telecom through a 10-year management contract.
With Etisalat's support, Atlantique acquired a license to enter the largest market in West Africa, Cote D'Ivoire, which was officially launched in July 2006. In the first 5 months of operations, this subsidiary, named Moov, had acquired a 21% market share.
For further information please visit Etisalat's Web site at www.etisalat.ae.
-Ends-
Press release issued by Corporate Communications Department - Etisalat.
For further media information, please contact:
Ahmed Bin Ali
Vice President - Corporate Communications
Tel: 02 6182173
Fax: 02 6334448
E-maiL: prd@etisalat.ae
Website: www.etisalat.ae
© Press Release 2007
