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 Friday, February 05, 2010

The sale of two mobile phone networks in Lebanon which has already been delayed many a times is again delayed till the end of this year. US$7 billion was expected to be raised through this sale for the heavily indebted government, although valuations have fallen since the economic downturn.

10- Year Build-Operate-Transfer (BOT) agreement led to the set up of Lebanonís two operators in June 2001. However, the government controversially cancelled the BOT licenses held by LibanCell and Cellis which were not due to expire until 2004 and invited bidders to manage the networks on its behalf, and the concession was eventually awarded to Zain and Alfa.

Political turmoil in the country had led to the failure of network sales.

Source: Wireless Federation