Etisalat to spend US$4-5 billion in Iran

ETISALAT Telecommunications Corp, which won a mobile spectrum in Iran via a consortium recently, said it will invest as much as US$5 billion in the country over the next five years.

The company, which won the international tender with Tamin Telecom, would spend US$1 billion on network within the first year.

Based on Wireless Intelligence's number, Iran has a mobile penetration rate of about 61 per cent, representing more than 44 million of its population.

Although being a latecomer into the Iran market, there should be plenty of growth opportunities for Etisalat. So far, the other players in the market include state-owned Iran Telecommunication Company (TCI) and Irancell, which is 49 percent owned by MTN Group.

http://www.reuters.com/article/rbssIntegratedTelecommunicationsServices/idUSLP70709220090125