UAE’s Etisalat wants Libyan investment

Etisalat, United Arab Emirates’ (UAE) largest telecom operator, said Monday evening it hopes to acquire an operating license in Libya or investing in an existing operator.

Libya’s current two state-run mobile operators are Madar and Libyana and a third government-run company Lap Green Networks operates across the continent. Scandal struck recently as several countries, notably Zambia, backed out of deals with the company due to ties with former president Muammar Gaddafi.

“We have shown to the Libyan government our interest (in) the possibility to participate in the development of the telecoms market in Libya, either by a new license or even by operating or investing in one of the existing mobile licenses,” Mohammad Omran, Etisalat Chairman, told Reuters.

Asked if Etisalat was negotiating with the Libyan government on buying into the telecoms sector Omran said, “There are no official talks”.

Etisalat’s promising bid for Libya’s third mobile license in 2009 ultimately fell through.

Etisalat thereafter looked to Egypt, winning the country’s third mobile licence and have since gradually gained more footing.

Three quarters of the former monopoly’s revenue is generated by its domestic market, despite being 60% government owned and active in 17 countries in Africa, the Middle East and Asia, according to its Q3 results.

Joseph Mayton